Media investment firm Ingenious today said its Music VCTs have joined forces with Peter Gabriel's Real World Records to create a new company, VCT Investments Ltd.

The new company will have a funding budget of £1.75 million ($3.56 million) and the capacity to sign and release a roster of 10-15 artists.

"This relationship gives us the opportunity to continue to expand our diverse catalog and invest in new music from all corners of the world," comments Real World Records chief operating officer Mike Large.

Ingenious Music VCT has raised £15 million ($30 million) and committed funding to 17 deals, while Ingenious Music VCT 2 has raised £26 million ($52 million) and completed 15 deals.

"We are delighted to announce that Ingenious Music VCT is now fully committed," said Duncan Reid, commercial director of Ingenious, in a statement. The pact with Real World Records, he says, is "indicative of our commitment to securing innovative investments in the U.K. music industry. Real World Records' strength in niche artists and digital distribution ideally positions it to capitalise on the changing climate of entertainment rights and revenues."

Since launching in 1989, Real World Records has sold nearly 6 million albums, from such artists as The Blind Boys of Alabama, Nusrat Fateh Ali Khan, Afro Celt Sound System and Sheila Chandra.

Ingenious was founded in 1998 by Patrick McKenna, former head of the media and entertainment group at Deloitte and Touche and chairman and CEO of the Really Useful Group.

The London-based firm is a specialist media investment and advisory business with operating subsidiaries handling asset management, consulting, corporate finance, investments, securities and ventures.

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