Cooking Vinyl Group has signed a partnership with music funding organisation Icebreaker to offer selected artists venture capital to help bankroll their campaigns.
Under the new arrangement, artists signing to Cooking Vinyl Records and sister company Essential Music & Marketing will have access to a pool of funding from Icebreaker’s LLPs.
Icebreaker LLPs have already been involved with various projects produced and distributed through Cooking Vinyl and Essential, including Marilyn Manson’s new album.
Cooking Vinyl are already in talks with a number of artists about possible deals that will involve Icebreaker.
Said Martin Goldschmidt, founder and MD Cooking Vinyl (pictured), “This is the first time to my knowledge that Venture Capital has teamed with a record label in such a significant way. We’re excited that Icebreaker have recognised the experience and professionalism that Cooking Vinyl bring to the equation. Between us we have the skills and financial leverage to maximise the chances of a project’s success.”
Caroline Hamilton, founder and MD Icebreaker Management added, “Our investors have a huge appetite for professionally managed acts. We’re delighted to be working alongside the people at Cooking Vinyl and we’re confident that, with their assistance, we will be able to help maximise returns for the Icebreaker LLPs, and at the same ensure that talent is properly rewarded.”
Icebreaker Management is the adviser and administrator to the Icebreaker LLPs. Since 2004, when the first LLP started trading, these LLPs have raised over £350 million of capital from private individuals.
These have helped fund the production and distribution of nearly 150 music albums from a range of new and established British, Irish and other artists and musicians. Recent and current acts include Marilyn Manson, Beverley Knight and Sinead O’Connor.Music Business Worldwide