UK based Ingenious Ventures has launched its latest EIS fund, which will take advantage of the increase in tax relief for EIS investors.  

The Shelley Media fund will invest in companies working in films, television programmes and video games.  

The minimum investment will be £3000 with Ingenious hoping to generate tax free returns of 13.7% per annum. Investors will potentially benefit from the new rules on EIS schemes, which will see tax relief rise from 20% to 30% from April 2012.

Ingenious has raised over £280 million of EIS funding and advised more than 150 EIS qualifying media companies. Projects that it has backed include Avatar.

Stephen Fuss, Investment Director at Ingenious Media Investments Limited, said: “We are anticipating a large increase in investment this year as a result of these anticipated returns and the uplift in EIS income tax relief to 30%.”