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Business News Management & Funding
Edge announce three new investment funds
By CMU Editorial | Published on Friday 15 January 2010
Entertainment investment management firm the Edge Group has announced the launch of two new entertainment-based investment funds plus an all-new football-based fund, which is the firm’s first foray into the sports domain.
Edge hope to secure investors for their new funds on the back of their recent successes in the music investment domain, especially in the live music sector where they have invested in projects involving the likes of Kanye West, Bon Jovi and the Backstreet Boys. There’s some important technical differences between the way the three new funds will work, but I won’t pretend to understand what they are, because I have a feeling you wouldn’t care even if I told you.
Announcing the new funds, Edge main man David Glick told CMU: “There’s a long history of city investors dabbling in entertainment, and they have invariably come unstuck. Edge is the first of a new breed of investment managers who really come out of the entertainment industry and understand how it works. Having proven our approach with the VCT, we decided to extend the Edge Performance formula to the EIS market”. Yeah, I don’t know what that means either.
On the move into the sports sector, Glick continued: “Sport is a new sector for us to invest in, but we are doing the same as we have done in the music industry, coupling insider industry knowledge with tax-efficient investment vehicles to bring new working capital to the industry. In the lead-up to London hosting the 2012 Olympics we believe there will be numerous opportunities for sport and sport’s entrepreneurs to benefit from our unique blend of investment and industry expertise”.
