Under the new arrangement, which the label's managing director Martin Goldschmidt planned to reveal at The Great Escape on Friday, artists signing to Cooking Vinyl Records and sister company Essential Music & Marketing will have access to an exclusive pool of music funding worth around £10m.

Cooking Vinyl will introduce Icebreaker, which since 2004 has raised £350m of capital and helped produce nearly 150 new albums, to emerging and established artists.

Goldschmidt, whose company has previously been involved with Icebreaker ...