Ingenious Media's two music VCTs have made a further joint investment, totalling £2m, to support the North American release of the next solo album of international artist, Peter Gabriel. The investment will be made through the formation of a joint venture company, High Level Recordings Ltd between the VCTs and Peter Gabriel’s company Real World Ltd. This is part of a wider working relationship with Real World which both parties are hoping to build upon in the near future.
Deal will be the second add-on acquisition for Danoffice since Agilitas's buyout of the company in November 2017
Bowmark will provide additional funding of £100m to fund the company's add-ons acquisitions
Exit represents an 18x return on Octopus's initial investment and a 9x return on its total investment
Deal follows M&A litigation initiated after coronavirus uncertainty and financing difficulties