Ingenious today announced that Ingenious Music VCT 2 has invested just over £1 million to back the third album from Australian songstress, Sia. The deal involves financing via a joint venture with IE Three Ltd - a division of IE Music - through its company Monkey Puzzle Records Ltd.
Having previously released two major label solo albums, Sia has enjoyed worldwide success and recognition both as a solo artist and as a featured artist on Zero 7's last three albums. She co-wrote and performed on their Mercury-nominated album ''Simple Things'' and their Grammy-nominated album ''The Garden'', gaining a cult following in Europe and the USA. Her MySpace page has become an online phenomenon, with over six million track plays to date and her song ''Breathe Me'' was famously featured over the closing credits of the TV series ''Six Feet Under''.
Sia's forthcoming album, an eclectic mix of soulful pop, is currently being produced by Jimmy Hogarth who has worked with leading artists including James Blunt, Amy Winehouse and KT Tunstall. The album will be released on 8th January 2008 to coincide with her European and American tours. She is managed by leading music industry professionals, Tim Clark and David Enthoven of IE Music, who also manage Robbie Williams and Craig Armstrong amongst other artistes.
Duncan Reid, Commercial Director of Ingenious, said:
''Sia has already gained worldwide success and shows much more potential. This deal underlines Ingenious' commitment to working with promising artistes and helping them exploit their commercial success.''
Tim Clark, co-founder of IE Music, said:
''We are delighted to be working with Ingenious again, one of the most forward thinking companies in their field. With their help Sia will continue to build on her already outstanding career as one of the most compelling, indeed, irresistible artistes of her time.''
Notes to editors:
About Ingenious
Ingenious, which 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, is a specialist media investment and advisory business with six principal operating subsidiaries: Asset Management, Consulting, Corporate Finance, Investments, Securities and Ventures. As the market leader in media investment and strategy, Ingenious provides the full range of services to companies in the media sector, from strategic and corporate finance advice to private equity funding, as well as providing innovative investment solutions for the private investor.
About Venture Capital Trusts (VCTs)
Provided that shares in a VCT are held for at least five years, qualifying investors receive income tax relief at the rate of 30% on the amount subscribed for VCT shares up to a maximum of £200,000 in any one tax year. Dividends and gains on the disposal of Shares are currently exempt from tax in respect of investments not exceeding £200,000 in any one tax year.
Ingenious
Duncan Reid
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