Film and music entrepreneur Patrick McKenna has announced a new £300,000 deal which will see his company Ingenious Music invest in a new band called The Heights. It is the first of a number of planned investments in artists from the equity firm, which has reportedly raised £15 million from city types to invest in music ventures, as well as announcing plans to raise another £30 million.
Duncan Reid, Commercial Director at Ingenious, told reporters: "Investing in an artist or band has now become a highly attractive proposition for the first time."