Venture capitalist Ingenious Investments has launched two new venture capital trusts (VCTs) with a joint fundraising target of £30 million. Ingenious Entertainment VCTs 1 and 2 will primarily back companies creating and marketing live events, with an added focus on those exploiting platform convergence.

Venture capitalist Ingenious Investments has launched two new venture capital trusts (VCTs) with a joint fundraising target of £30 million. Ingenious Entertainment VCTs 1 and 2 will primarily back companies creating and marketing live events, with an added focus on those exploiting platform convergence.

Ingenious Media, the parent company of Ingenious Investments, will make a foundation investment of £1 million in the VCTs to demonstrate ‘its belief in the opportunities offered’, though as an institutional investor it will not benefit from the VCT tax breaks that private investors enjoy.

Ingenious believes that a combination of three factors will create continuing investment opportunities for the newly launched VCTs: the expansion of the digital media sector; the ability to exploit content across various platforms; and the growth in the popularity of live events in the UK. Ingenious Entertainment VCTs 1 and 2 may invest in companies operating in live events, theatre, interactive content, video games, television, and film and music rights.

Shares in the VCTs are on offer from now until 5 April, the end of the current tax year. Share allotment for the next tax year will begin on 31 May, with a final closing date of 31 July.

Each 100p share has a net asset value of 94.4p, after issue costs have been deducted.