Entertainment investment fund the Edge Group has announced it has appointed Sanjay Wadhwani, previously of rival investment types Ingenious, to head up its media investment business. Hey, he should invest in us. Or at least take us all out for expensive dinners to discuss investment. Yeah, the dinners sound like more fun.
Anyway, confirming his appointment to Edge, Wadhwani told CMU: "I have been through a long nine year journey with Ingenious, working with small, fast growing companies, helping build a business from scratch, and I look forward to bringing this experience to Edge to help build the group. David and I share an ambition to create the premier next generation investment and advisory business, serving media and entertainment, one of the most important sectors of the UK economy. We will provide investment from a range of funds together with specialist advice to help promising media businesses achieve their full potential".
Glick added: "The appointment of Sanjay Wadhwani marks the beginning of the next phase of development for Edge's business. To date our investment strategy has been focused on providing finance for entertainment businesses using tax efficient structures. Disruption in the media landscape continues to create opportunities for companies to rapidly build earnings and value, and Sanjay's appointment signals our intent to significantly step up both our range of investment products and our overall investment activity in the creative industries".
As previously reported, while at Ingenious Sanjay Wadhwani was caught up in the collapse of Trinity Street, the music-focused e-commerce company that suddenly went into administration earlier this year. Ingenious had invested into Trinity Street after it had been acquired by David Robson and Andrew Murray. Robson and Murray were fired from the company a few months before its demise, and they launched legal proceedings against Ingenious and Wadhwani personally in relation to their removal. That litigation, as far as I'm aware, is ongoing.
Elsewhere in Edge news, the investment business, which invests in all sorts of mainly live entertainment ventures, has announced that all of its 2006 investors have now made back their original investments, which is pretty good going apparently.