28 Nov 2018
Bridgend based Leading Sports & Media (LSM) has secured a substantial equity investment from private investors. The investment will enable LSM to launch its innovative cycle racing commercialisation model into the professional racing circuit throughout Europe.
Over 300 professional cycling races take place in Europe annually attracting hundreds of thousands of spectators. Most race organisers do not capitalise on the advertising, sponsorship and merchandising opportunities created from spectator interest. Founder of LSM Eifion Weinzweig himself a former professional racer previously based in France but from South Wales, realised the business opportunity, and secured the rights to 20 of the top races. An innovative commercialisation model was developed and quickly attracted the attention of professional cycling’s governing bodies. However, the company required investment to exploit the opportunity.
Working with Cardiff based early stage investment specialists Severn Seed Finance (SSF), a strong funding proposition was developed. This has attracted investment from London based Start Up Funding Club (SFC) and one of SSF’s angel investors.
Weinzweig said, “Severn Seed Finance had the expertise we needed to develop our business plan and investment proposition. Having approached SFC and presented at their pitching sessions they agreed to come in with the core investment alongside one of SSF’s angel investors.” Apart from funds this combination has injected “Smart Money” providing fantastic business skills alongside Weinzweig’s knowledge and contacts in the cycling industry.
David Maas Founder of Severn Seed Finance said, “Eifion’s knowledge and experience of the professional cycling industry is second to none. We were delighted to be able to assist him to develop his ideas into an attractive business and investment proposition and help him raise funding.”
LSM’s initial races will take part in Spain and Italy in spring 2019. Early indications are that the commercialisation model is proving popular with local business in the race regions and initial sales will be ahead of target. The Company has established a new office base in the Apollo Business Village, Aberkenfig, Bridgend and is in the process of recruiting new staff.