UK-based Ingenious Ventures has launched its fourth Shelley Media Fund.

The EIS fund will invest in companies working in TV, film and gaming.

Ingenious predicts that the fund will generate tax-free returns of 13.6% per annum. The minimum investment has been lowered to £3,000.

Ingenius has had a total EIS fund raise of more than £250m.investing in more than 130 conpanies.

Stephen Fuss, investment manager at Ingenious Media Investments Limited, noted: “After one year of operation, the performance of the first Shelley Media Fund is in line with launch forecasts and we are anticipating a large increase in investment this year as a result of the uplift in EIS income tax relief to 30% and our excellent track record in delivering anticipated returns on our EIS investments.”