The organisers of the festival, which was held last summer in Henley-on-Thames, Oxfordshire, and attracted more than 40,000 music fans to the two-day event, will hold a second festival to be named 80s Rewind North in Perthshire in July this year.

The £1 million investment from the Ingenious Entertainment VCTs has been used to secure the new Scottish venue and promote the event, according to an Ingenious statement. Confirmed acts at the Scotland event include The Human League, Tony Hadley, Rick Astley, Kim Wilde, Bananarama, Hue & Cry and a special reunion of Scottish band The Bluebells.

Paul Bedford, investment director at Ingenious, adds: ‘This latest funding is just the first step in our plans to support the roll out of the Rewind brand internationally. There is already strong interest to launch the first 80s Rewind Festival in Holland and talks are also underway to take it to Australia.’

Ingenious VCTs, which primarily invests in music festivals, live events, exhibitions and TV shows, has investments in a range of other music festivals and venues including dance festival Creamfields, high street comedy club franchise Jongleurs, and the interactive Golf Live event.