The news follows the firm’s partnership with world music-focused label Real World Records to form a new investment vehicle with £1.75 million to invest.

The new company, dubbed VCT Investments, has the capacity to sign and release up to 15 artists.

Duncan Reid, commercial director of Ingenious, comments: ‘Real World Records’ strength in niche artists and digital distribution ideally positions it to capitalise on the changing climate of entertainment rights and revenues.’

The first Ingenious Music VCT closed two and a half years ago, having raised £15 million. It has committed funding to 17 deals. Ingenious Music VCT 2, which raised £26 million before closing in April last year, has completed 15 deals to date.

Real World Records was launched in 1989 by singer Peter Gabriel and the World of Music, Arts and Dance (WOMAD), an international organisation which organises music festivals. It aims to provide artists from around the world with recording facilities and audiences beyond their geographic region.

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