Ingenious invested £1.7m into Creamfields in 2008, helping to turn the event into a two-day festival.

The deal gives the investment company a 20% share of second-day profits of Creamfields, for as long as the event runs, with festival organiser Cream guaranteeing £1.27m of minimum revenue for Ingenious, significantly reducing the risk.

Ingenious explained the investment had been a success both for Creamfields - which won best festival at the 2010 Music Week Awards - and for itself. In 2008, ...