The two venture capital trusts (VCTs) of London-based Ingenious have made a further joint investment, totaling £2 million ($3.9 million), supporting the North American release of Peter Gabriel's next solo album.

The investment will be made through a new joint venture company, High Level Recordings Limited, formed between the VCTs and Gabriel's company, Real World Limited. This is part of a wider working relationship with Real World, which both parties are hoping to build upon in the near future.

"We are really pleased to be offering such a quality opportunity to investors which we intend to continue both for the music and Live VCTs," says Duncan Reid, commercial director of Ingenious.

The deal follows the four investments announced in the latter part of 2006, which involved four joint investments supporting the debut albums of bands Passenger and Apartment, singer/songwriter Indiana Gregg, and in Travis' upcoming fifth album.