London's boutique investment bank Ingenious Media, headed by Patrick McKenna, continues to invest in established bands...

London's boutique investment bank Ingenious Media, headed by Patrick McKenna, continues to invest in established bands, heritage acts and comeback albums and has now added veteran reggae band UB40 and all round great guy Peter Gabriel to its books, alongside The Prodigy and Travis - both of whom are still successfully touring.

The firm, which specializes in media and entertainment deals, pays for the acts' music production, marketing and CD distribution. Ingenious has raised $79million in two funds.

So far, they have financed 15 albums and agreed to pay for seven more, spending roughly between $400,000 and $2million each, according to regulatory filings.

Two albums have so far been released, from The Heights and Travis.

Ingenious joins Starbucks in investing in established talent. In the highest profile move to date Sir Paul McCartney announced in March he would join their Hear label from EMI and has already sold 500,000 units by early August.

More recently, Joni Mitchell and the late Ella Fitgerald had albums announced.

Live Nation are also joining the fray with speculation that Madonna's current album with Warners alongside a greatest hits will be her last for the major and that after this she will considering a combined recording / touring / merchandising deal with Live Nation.