Veteran management executive, Darren Michaelson, the man behind artists, Smashing Pumpkins and Elton John, is the exclusive consultant for the fund. He plans to invest money in small and mid market enterprises, with the minimum annual turnover of £3m in the music and entertainment industries.
Michaelson adds that there will be no person guarantees or “onerous covenants,” and that the investment will be turned around within 30 days of agreement completion. The exec says that when the investments occur, the funding will take no shares, and no seat on the board. The best part? There will apparently be, “no control whatsoever or forced exit.”