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Government-backed bank supports latest Edge creative industry investment fund

By | Published on Friday 20 November 2015

Edge Investments

Edge Investments, an investment firm that specialises in backing creative industry ventures, and which has made a number of music investments over the years, has secured the support of the British Business Bank for its latest fund. It is the first time the government-backed British Business Bank, which was set up two years ago to increase financing for smaller UK businesses, has put cash into a specific creative industries investment initiative.

Referencing a number of successes in the UK music and entertainment sectors in recent years, Edge CEO David Glick is quoted by the Financial Times as saying: “It’s been very hard for creative industries to know where to look for finance [and] we could be doing a huge amount more, if we solve the funding drought for these businesses”.

Creative industry investment funds like those operated by Edge first came to prominence a decade ago when the then government provided tax incentives for those investing in such ventures. Though of his new fund, Glick says “we can’t rely on tax advantages … for us, it’s about providing patient capital for these businesses to grow”.

Glick adds that he expects to invest into twelve to fifteen media or entertainment ventures with his latest £40 million fund, and that “we really want people in the sector to bring [us] their business ideas”.

Explaining his organisation’s investment into Edge’s latest fund, MD of the British Business Bank’s venture capital unit, Ken Cooper, added: “This is the first fund specifically focused on the creative industries backed by the British Business Bank. We look forward to working with Edge Investments, which has extensive experience in this sector and a proven track record. The creative industry is of increasing importance to the wider UK economy and we are particularly pleased that this fund will ensure these high-growth businesses have access to the finance they need to scale”.