Investment firm the Edge Group says it is now managing the biggest specialist investment fund for the live music and events industry after a second round of funding added £13.45 million to their coffers.
The Edge Group's Edge Performance Venture Capital Trust raised £6.25 million from its first investment offer, and has now invested those funds in various live music ventures, working in partnership with the likes of SJM and AEG, and with artists like James Morrison, The Good, The Bad and The Queen, The Pogues, Katherine Jenkins, James, Seal, Bryan Ferry, Elvis Costello and Bryn Terfel. The funds raised by the second investment offer will enable the fund to make even more investments in the profitable live sector.
Edge Group founder David Glick says he will announce a series of further investments in the coming twelve months which will make the investment outfit an important player in the wider live industry. Glick said this week: "There is nowhere in the entertainment industry which is as buoyant and exciting as live events. We are very pleased with the quality of the opportunities we are finding. As Edge grows in scale and reputation I expect us increasingly to become the first port of call for entrepreneurs in the live business wanting to take their companies to the next level".
He continued: "I am delighted that in less than 18 months from its launch Edge has the greatest funding of its type to invest in live music and events in the UK. I believe that this is a vindication of our strategy to allow individual investors to participate in the live music boom and of the very high quality team of music industry experts we have assembled".