Edge Makes Ingenious Appointment July 02, 2009
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By Andre Paine, London
Edge Group, the specialist U.K. investment firm for the entertainment sector, has recruited Sanjay Wadhwani from Ingenious Media.
Wadhwani has been appointed to help drive expansion of the London-based firm's media investment businesses.
He was at London-based Ingenious for nine years and was, until April, a director at Ingenious Ventures, the company's private equity and VCT business. Wadhwani was also a member of the investment team managing the AIM listed private equity fund, Ingenious Media Active Capital, and a member of the investment committee of the Ingenious VCTs.
As one of its original team of five staff, Wadhwani, was closely involved in a number of innovative deals at Ingenious including the multi-platform Robbie Williams deal with EMI, the flotation of TV production company Shed Media and its subsequent merger with Ricochet, and the investment in and sale of American Idol creator 19 Entertainment.
Edge Group launched in 2003 and currently manages more than £50 million ($82.1 million) in its VCT and Enterprise Investment Scheme (EIS) funds.
"The appointment of Sanjay Wadhwani marks the beginning of the next phase of development for Edge's business," said Edge Group founder David Glick in a statement.
"To date our investment strategy has been focused on providing finance for entertainment businesses using tax efficient structures. Disruption in the media landscape continues to create opportunities for companies to rapidly build earnings and value, and Sanjay's appointment signals our intent to significantly step up both our range of investment products and our overall investment activity in the creative industries."
Wadhwani added: "David and I share an ambition to create the premier next generation investment and advisory business, serving media and entertainment, one of the most important sectors of the UK economy. We will provide investment from a range of funds together with specialist advice to help promising media businesses achieve their full potential."
Edge Performance Venture Capital Trust raised an additional £9.4 million ($15.4 million) to invest in live music and events over the last year.
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