Ingenious targets £20 million for new EIS fund

Ingenious Ventures, the venture capital arm of fund manager Ingenious, has launched a new Enterprise Investment Scheme (EIS) fund that will invest in growth companies across the creative and media industries in the UK.

The Media Opportunities Fund has a target raise of £20 million. Ingenious aims to make growth capital investments in companies across the sector, including businesses in marketing services, fashion and design, e-commerce, publishing, gaming, live entertainment and audio-visual content production including TV, internet and mobile.

The fund’s investments will be made in two separate asset classes. The first class will comprise of high-growth companies that have the potential for significant equity returns, and the second is companies that can demonstrate a predictable level of profitability through contracted revenues.

According to a statement from the firm, the fund’s managers plan to benefit from opportunities that have arisen in the sector through the ‘ongoing changes’ in consumer media consumption, regulation and technology. It highlights the popularity of mobile devices including Amazon’s Kindles and Apple iPads as ‘growth stimulating’ products that have led to an increase in activity in the sector.

As an approved EIS fund, investors may be eligible to receive the 30 per cent tax relief on investments of up to £500,000, and will benefit from an exemption from capital gains tax on disposals of investments made by the Fund. The minimum individual investment in the fund is £10,000.

Patrick Bradley, chief executive at Ingenious Ventures, comments, ‘With a number of the traditional forms of funding for the media sector, such as bank finance, evaporating over recent years, we are pleased to be able to support the important growth of the industry through our fund to ensure that the UK remains a hub for innovation and creativity.

‘We look forward to backing those identified companies with growth capital whilst providing a unique and exciting investment opportunity for our clients.’

Todd Cardy

Todd Cardy

Todd was Editor of between 2010 and 2011 as well as being responsible for publishing our digital and printed magazines focusing on private equity and venture capital.

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EIS investment