Ingenious, a media investment and advisory business, has launched two new live entertainment Venture Capital Trusts (VCTs), Ingenious Live VCT 1 and 2, which are jointly targeted to raise up to £50 million to be invested in companies producing and promoting new and established live events.

Patrick McKenna, chairman of Ingenious, says: ‘The demand for live entertainment, in all forms, has increased significantly in recent years as consumers look for new and unique entertainment experiences.

‘This consumer led growth in live revenues has been fuelled by brands wishing to sponsor and advertise around major events of both an entertainment and sporting nature.’

Ingenious states the investee companies backed by the VCTs can expect to work with experienced promoters and will secure ‘significant downside protection through performance warranties or similar contractual arrangements which will generate revenues equivalent to at least 70 per cent of each VCT’s investment’.

According to Ingenious, the live events market is thriving: in 2004 to 2005, annual UK household spending on theatre, concerts and shows increased to an estimated £1.46 billion, up 50 per cent on the previous year .

The VCTs will be managed by Ingenious Ventures, the private equity arm of the company.