CMU's current favourite investment firm (if we awarded badges to our favourite investment firms, these guys would have one) Ingenious Media has launched two new live entertainment venture capital trusts with a view to investing in companies that produce and promote new and established live talent.
The company hopes to raise in the region of £50 million for each of the trusts, which will then be invested in companies across the live entertainments sector. That might include concerts, festivals, exhibitions, theatrical shows, conferences, trade fairs and sporting events.
Confirming the new trusts, Ingenious chairman Patrick McKenna said, almost in English: "As a component of media, the live sector is becoming ever more important as consumers seek special and unique shared experiences to augment their increased consumption of digitally delivered content which they experience in a more insular fashion".