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UK - Ingenious backs dance act the Prodigy in £2m deal

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Ingenious' two music VCTs have made a joint investment of £2m to support the release of dance act the Prodigy’s fifth studio album. With a further six deals in the final stages of negotiation, Ingenious Music VCT Plc is now approaching full commitment, just 18 months after the close of fundraising, whilst the second fund, Ingenious Music VCT 2 Plc, has less than £10m of its original funding left to commit.

This latest investment has been made through the formation of a joint venture company between the VCTs and established label Cooking Vinyl. Prodigy were formed in the early 1990s and have built a significant track record in the music industry, achieving immense popularity and worldwide renown. This album follows the success of their last three studio albums, including their greatest hits album in late 2005, all of which reached number 1 in the UK chart.
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