UK firm launches media, entertainment fund
Edition Capital has launched a new media and entertainment investment fund targeting an initial raise of up to £20m.
The fund will focus on the live entertainment, television, venues and immersive media sectors, building upon the expertise of the London based team.
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 areas of the media and entertainment fields.
This launch follows the announcement of the sale of Impresario Festivals plc’s festival assets to Global, a sale in which Edition Capital was involved. 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. According to research published by Mintel the live music and festivals market has a value of more than £2bn and could rise as high as £3.5bn in 2020.
“We’re extremely excited to be launching ‘First Edition EIS’ and we’re very much looking forward to identifying the next big things in the media and entertainment sectors. The Edition Capital team is highly experienced in developing emerging brands and helping them realise their potential,” Edition Capital Partner Harry Heartfield said.