VIP newsletter September07.indd - VIP-Booking

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VIP newsletter September07.indd - VIP-Booking

VIP- News - S e p t e m b e r 2 0 0 7

Edge VCT is Britain’s Biggest Live

Events Fund

Allan McGowan am@vip-booking.com

COLOPHON ››

VIP-News is published by:

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Allan McGowan

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On 10 September The Edge Group announced

that its Edge Performance Venture

Capital Trust, the first VCT to target investment

into the live events industry, had become

the biggest UK specialist investment

fund for the live music and events industry.

The fund has raised £19.7m after its second

offer doubled the £6.25m it raised in its first

round. That original £6.25m has now been

fully invested.

Edge has already backed events co-promoted

with leading promoters such as SJM and

AEG, featuring artists including The Good,

The Bad and The Queen, The Pogues, Katherine

Jenkins, James, Seal, Bryan Ferry, Elvis

Costello, James Morrison and Bryn Terfel.

» I am delighted that in less than 18

months from its launch Edge has the

greatest funding...«

- David Glick

Edge Group founder David Glick said the

Company will announce a series of further

investments over the next 12 months which

will establish Edge as a significant player in

the live events industry, investing alongside

both new and established promoters.

“There is nowhere in the entertainment industry

which is as buoyant and exciting as live

events,” he said. “We are very pleased with the

quality of the opportunities we are finding. As

Edge grows in scale and reputation I expect us

increasingly to become the first port of call for

entrepreneurs in the live business wanting to

take their companies to the next level.”

Glick said that the key to Edge’s success in

fundraising has been a combination of a clear

proposition for investors and a stellar investment

team. “I am delighted that in less than 18

months from its launch Edge has the greatest

funding of its type to invest in live music and

events in the UK,” he said. “I believe that this is

a vindication of our strategy to allow individual

investors to participate in the live music boom

and of the very high quality team of music industry

experts we have assembled.”

Edge Performance is unique in offering investors

a high degree of capital protection

coupled with a strong potential upside. In

essence this means that Edge first underpins

shareholders’ funds with a combination of

low risk deals and the 30% tax relief offered

under the Government’s VCT rules, and then

carefully selects other investments that offer

far greater potential upside.

“Historically the music industry has tended to

frighten away investors, and even for the determined

investor the fragmentation of the live

sector has traditionally made investment by

individuals very difficult.” said Glick. “Edge’s

unique structure [supported by the Government’s

VCT tax incentives] combined with the

health of the live sector mean even relatively

small investors can now participate with confidence.”

The Edge VCT team includes some of the

biggest and most experienced names in the

entertainment business, including:

David Glick, one of the entertainment industry’s

most successful dealmakers who

represents clients as diverse as DJ Fatboy

Slim, celebrity chef Giorgio Locatelli and

fashion designer Alexander McQueen;

Frank Presland, manager of Elton John and

James Blunt; Michael Eaton, manager of

Eric Clapton; Harvey Goldsmith CBE, legendary

impresario and organiser of Live

Aid and Live 8; Sir Robin Miller, former

chairman of both EMAP and HMV; Gordon

Power, private equity pioneer; Alasdair

George, former Sony-BMG business affairs

chief and Julian Paul, co-founder of Eagle

Rock Entertainment.

Said Glick, “The entertainment industry is a

people business and we are lucky enough to

boast some of the most talented and bestconnected

people in the business on our

team.”

Edge VCT

2

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