The investment will come from a number of Beringea's venture capital trusts (VCT): its ProVen VCT, ProVen Growth & Income VCT and ProVen Planned Exit VCT.

"We are thrilled that Eagle Rock is moving to this exciting and profitable area, and Roberto Neri has already proven a very strong CEO for the business," said investment director at Beringea Karen McCormick, who led the deal and will be joining the Eagle-i Music board as a non-executive director.

"We are investing for ...