British financier Ingenious Media plans to raise £250 million ($439 million) to invest in the media sector by creating Ingenious Media Active Capital to float on London’s Alternative Investment Market.
The money raised will be managed by Ingenious Ventures, the group’s private equity arm, which will seek out investments in film, TV, music, interactive entertainment, marketing services and business and consumer publishing.
Ingenious will predominantly target unquoted British companies that are past startup but still have high growth potential.
“Changes in technology, regulation and consumer behavior make this an exciting time for media investment, as traditional barriers to entry are being eroded,” said Patrick McKenna, chairman of Ingenious Media.
McKenna, formerly chairman-CEO of the Really Useful Group, founded Ingenious in 1998 and has built it into one of the most innovative and influential dealmakers in British showbiz.
Company is the leading tax financier for British movies, and it is currently negotiating the $100 million multialbum deal between Robbie Williams and EMI and brokering the sale of several indie TV production outfits. It also has raised venture capital to invest in music A&R.
Ingenious Ventures was launched in 2001 and has invested $39.6 million in five companies. The first of these, Simon Fuller’s 19 Group, was sold in March, netting Ingenious $44 million for its 25% stake, a fivefold return on its investment.