TVG RAISES $50M FOR VENUES

Venue company TVG Hospitality has raised $50m in funding to help finance new venues across the U.K. and U.S.

TVG, co-founded by Mumford and Sons’ Ben Lovett, is developing plans for venues in Los Angeles, New York, Nashville, Detroit, Austin, Washington D.C., and London. TVG’s portfolio currently includes London’s Omeara, Lafayette and The Social, as well as the soon-to-be-opened Orion Amphitheater in Alabama, which has been built in partnership with the City of Huntsville.

Gibson Brands led the funding round; its Chairman, Nat Zilkha, sits on the TVG board and leads his own media company, Firebird Music Holdings.

Other backers include Irving Azoff and Oak View Group; C3 Presents; Justin Kalifowitz; Coran Capshaw; Lucy Dickins, Mumford and Sons’ agent and co-Head of Music at WME U.K.;  Tom Windish; and Ryan Tedder.

Lovett said: “I am incredibly grateful for the investments from so many of our industry leaders. It furthers cements our belief that our new thinking is going to be game changing for artists, fans and communities alike.”