Ben Lovett, of Mumford & Sons fame, has announced that his company, tvg hospitality, has closed $50m (£37m/€44m) in new funding to expand in the UK and the US.
The Welsh musician is one of the founding members of folk band Mumford & Sons and has established the new hospitality venture with his brother Greg Lovett – a former finance director at private member club, Soho House.
London is already home to three venues operated by tvg, including Omeara, Lafayette and the Social, with broader hospitality offerings at Flat Iron Square and Goods Way.
The company has also partnered with the City of Huntsville, Alabama on the 8,000-capacity Orion Amphitheater (pictured) due to open in May this year. Tvg will manage the venue and in-bowl concessions, as well as operate the food village next to the amphitheatre and another Huntsville venue opening in the summer.
Ben Lovett said: “Our passion at tgv, our defining character, is a deep-rooted belief in the value of communal spaces, gathering places where we can be reminded of our common ground and all that makes us human.
“Music is the ultimate leveller – somewhere between melody and lyric is a truth that calls us away from our phones and out of our living rooms to stand together and sing together. The plans we have in mind are rooted in elevating these experiences surrounding live music.”
The financing was led by tvg board member Nat Zilkha and guitar manufacturer Gibson Brands, with participation from across the music industry including promoter C3 Presents, Irving Azoff and advisory, development and investment company Oak View Group, Mike Luba and Don Sullivan, Justin Kalifowitz and Andrew Bergman, to name but a few.
Musicians such as Ryan Tedder, Maggie Rogers and Ted Dwane have also participated in the funding round.
Further support came from those in the hospitality industry, including Jen Rubio and Stewart Butterfield, Joe Gebbia, Olga Segura and Tom Katsotis amongst others.
“I am incredibly grateful for the investments from so many industry leaders. It further cements our belief that our new thinking is going to be game changing for artists, fans and communities alike,” added Lovett.
Azoff, chairman and chief executive of The Azoff Company and co-founder of Oak View Group, said: “We are thrilled to be working with tvg on this next chapter of their venues. Ben and his team approached the venue space in exactly the right way – you have to put the artist and the fan at the centre of every thought process.
“That’s the key and tvg are both artists and fans whilst also knowing a thing or two about hospitality. We hope to support them on their mission in any way we can.”
The company has recently expanded its leadership group which also includes Ben and Greg Lovett’s father, David, as the chairman.
Graham Brown is the chief development officer, while Jesse Mann, Dan Pine and Lisa Seelinger have joined the company in various positions.
“We have purposefully built a leadership team with extensive experience across music, hospitality, real estate and finance. We are building our company like we create our venues, with intention, so that our assets and tvg become valuable and sustainable parts of each of the communities in which we operate,” said David Lovett.