IBIS Capital launches £30m investment fund for small media firms
LONDON - A £30m investment fund for small private UK media firms has been launched as part of a collaboration between investment firm IBIS Capital and a raft of senior media and finance figures.
The fund is called IBIS Media and is structured as two £15m venture capital trusts, which will make investments of up to £2m a company.
Directors of the new fund are made up of eight media industry heavyweights, including Sir Robin Miller, former Emap chairman and chief executive officer, and Gary Hughes, chief executive officer for United Business Media's CMP Information.
Together the directors have personally invested £1m and are now spending the next two months seeking further investors.
Miller, who has been named as chairman of IBIS Media, said: "Although there is plenty of private equity money available for medium-size to large UK media companies, there is still a shortage at the smaller end, a gap which we hope to help fill."
A spokeswoman added that companies across the media industry, including advertising and marketing, will be considered for investment.
David Forster, IBIS Capital founder, said: "We hope that the combination of industry, investment, analytical and corporate finance skills will enable us to build an attractive portfolio of investments and ultimately profits for our shareholders."
UK tax-paying investors can benefit from a 40% income tax rebate in individual investments of up to £200,000.
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