Ingenious Live, formed in November, is made up of two venture capitalist trusts with a commitment of £1m, in addition to the personal commitments that have been made by the board of directors and members of the management team.
Morris joins a board made up of Patrick McKenna, former chairman and chief executive of the Really Useful Group and chairman of the Young Vic, Paul Gregg, founder of the Apollo Leisure Group, and Piers Gregson, former chairman of Deloitte & Touche’s media and entertainment group.
“At a time when the live events world is really gaining momentum I believe Ingenious can add real value to this market. I intend to play an important part,” Morris said.
Ingenious Live is focused on investment activity in music festivals, conferences, exhibitions and sporting events. Its first investment will see it co-promoting the Knowsley Hall music festival in London with nightclub brand Cream. The festival, from 23-24 June, will be headlined by bands Keane and The Who.
Ingenious, founded in 1998 by McKenna, has five operations: investments, corporate finance, asset management, ventures and consulting. A securities business will be launched later this year. Ingenious Ventures has previously worked with Cream on its Liverpool festival Creamfields and Simon Fuller’s 19 Entertainment – a music, television and live events company responsible for the Pop Idol concept.
Ingenious chairman Mc-Kenna said: “I am delighted that Morris has decided to join the board at this exciting time for the venture capital trusts. He has unparalleled experience in this market and will bring his boundless energy and expertise to the board at a time when the events market is experiencing a significant surge in numbers.”