Summary
INDEPENDENT fund house Cazenove Capital Management has shaved its shareholding in Ingenious Music Venture Capital Trust 2 (VCT2), one of the largest venture capital trusts listed in the UK.
Cazenove has reduced its stake from 17.97% of the [pounds]26.5 million trust to 16%, more than two years after it closed to new investment. Both the VCT2 and the original issue of the fund, launched in 2005, invest in music businesses and record labels able to capitalise on intellectual copyrights. The Ingenious board includes music industry executives, with Pop Idol creator Simon Fuller among them. The company launched two new VCTs, planned to take in [pounds]30 million for investment in businesses running live music and other live events, at the end of 2007. Cazenove has an in- house alternative assets division alongside its core UK and European equity and fixed-interest investment teams.See the full content of this document
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