UK-based independent label Cooking Vinyl is announcing plans to be the `official introducer’ to a new multi-million pound investment fund from VC funding firm Icebreaker. The fund will be used for artists signing to Cooking Vinyl and its sister company Essential Music & Marketing. The idea: investors in Icebreaker’s fund will be able to sink their cash into new and established artists – a model that is familiar to Cooking Vinyl, having been involved in the last album by Prodigy, which was funded through this kind of model, albeit from Icebreaker’s rival Ingenious. The label has also worked with Icebreaker on funding Marilyn Manson’s new album. Cooking Vinyl says it expects to make `a number of high-profile signings’ over the next year, backed by the new fund. “This is the first time to my knowledge that Venture Capital has teamed with a record label in such a significant way,” says founder and MD Martin Goldschmidt. In separate news, Cooking Vinyl have signed The Cult. They would have signed to Sanctuary but someone sold it… Source: Music Ally Blog
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