Creative industry investor Ingenious Ventures has selected The Stable as its latest deal and injected £150,000 worth of growth funds.
The Stable has exploited the tax efficient Seed Enterprise Investment Scheme (SEIS) investment process to raise £150,000 of new investment.
Launching in London, The Stable commissions, develops and presents musical theatre productions and says it is taking advantage of a ‘growing trend’ for off-West End productions.
Ingenious Ventures, a division of Ingenious, has stepped in as lead investor and brings with it experience of backing businesses in the media and entertainment sectors.
The Stable, which has been set up by a team of musical theatre creators, says it is commissioning and producing ten shows over the coming six years – all of which will be presented at ‘renowned’ off-West End regional theatres.
Neil Marcus, managing director of The Stable, comments, ‘With Ingenious’ support – financial, operational and creative – we are well positioned to achieve our goal of championing an incredible talent pool of new writers who are poised to take centre stage.’
The Stable adds that off-West End shows can cost as little as 10 per cent of what a mainstream West End show costs, and can form sustainable business from a low cost.
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Back in April, a new fund created by part of the team behind Ingenious Ventures was launched with a fundraising goal of £150 million.
Headed up by Patrick Bradley and advised by Patrick McKenna, both co-founders of Ingenious, Station 12 is filling what the founding team determined was a gap in the market – namely growth and expansion capital for ventures in the media sector.
Commenting on the new investment in The Stable, the Ingenious Ventures team says, ‘Neil and his team have presented to us both a solid investment proposition, as well as the experience and skills to find, nurture and bring the best musical theatre talent to an even greater audience than ever before.’
Other developments to come out of Ingenious Ventures during the last year include the creation of its first Ingenious Seed Investment Programme to target investments of up to £150,000 in media and creative early-stage businesses.
Set up in June 2013, the £2.25 million fund was looking to back 15 ventures which qualify through SEIS.