Edition Capital announces launch of new media and entertainment fund
Following the recent announcement of the successful sale of Impresario Festivals plc’s festival portfolio to the media and entertainment group Global, investment and advisory house Edition Capital has today announced the details of ‘First Edition EIS’, an investment fund that aims to provide growth support for businesses in the media and entertainment sectors. The fundwill focus on the live entertainment, television, venues and immersive media sectors, building upon the expertise of the Edition Capital team.
This launch follows the announcement of the sale of Impresario Festivals plc’s festival assets to Global, a sale in which Edition Capital played a critical role. The sale equates to a doubling of shareholder value in less than four years. Since its launch in 2012, Impresario has grown by acquiring some of the UK’s leading festival brands including Field Day, Boardmasters, South West Four Weekender and Rewind. The festivals being sold attracted a combined audience of 350,000 within the UK this year and have featured artists as varied as The Chemical Brothers, James Bay, PJ Harvey and Rick Astley.
Over the past 15 years, members of the team have been involved with a number of international music and entertainment businesses including 19 Entertainment (sold for in excess of $100m) and Cream – sold in 2012 to Live Nation. The fund will span both profitable and pre-profit businesses, from the roll out of existing established concepts through to the creation of new assets in the many promising areas of the media and entertainment fields.