MEDIA EXEC BRINGS £1M PERUVIAN BID TO SOHO
MARTIN MORALES was headhunted by Apple as one of the four founders of iTunes Europe and sat on the board of The Walt Disney Company.
But Ceviche, the Peruvian restaurant behind a plain black door at 17 Frith Street in Soho, is his life’s work.
Since leaving Disney in July 2011, the half-Peruvian Morales has survived on five hours sleep a night and almost bankrupted his family as he pitched the business to 300 potential investors to raise the £1m needed to found the venture.
Morales holds a majority stake; the rest has come from individual minority shareholder friends, with advisory support from hospitality and media contacts including Sinclair Beecham, the Pret A Manger co-founder, Innocent Drinks entrepreneur Richard Reed and Michael Acton-Smith of Moshi Monsters, who once employed Morales as a consultant.
Acton-Smith advised the average time to raise start-up investment is two years, but Ceviche secured its funding within six months by last August – “a pretty extraordinary achievement in this climate”, says Morales.
Thirty of Peru’s 420 national dishes will be served under the eye of former Soho House Group chef Alejandro Bello when the venue opens on 5 March, and Morales hopes to break even within six months of launch. Turnover, he predicts, will be “in the ballpark” for that area of Soho – between £20k to £60k per week.
AMLIN ON TRACK
TOOLS were downed at Lloyd’s of London yesterday as employees stopped to stare at ex-England rugby captain Lawrence Dallaglio and ex-England cricket captain Freddie Flintoff, who dropped in as guests of insurer Amlin.
The sportsmen are preparing for their epic charity cycle ride: the 2012 Cycle Slam between 23 April and 18 May, when the pair will cycle 2,872km across Europe from Olympia in Greece, the birthplace of the ancient Olympic Games, to the venue of the London 2012 event in Stratford.
Amlin has supplied 22 of its underwriters and brokers to accompany Dallaglio and Flintoff (right) on the 362-mile final leg, which includes the “Hell of the North”, a 153km journey over cobbled farm tracks from St Quentin to Roubaix.
POWER BATTLE
ROUND ONE to the City in the battle of Carter Lane. After intense lobbying from unamused local businesses, UK Power Networks has been forced to delay the power cut it had planned for the St Paul’s thoroughfare tomorrow to carry out “planned works”.
“The area manager is in consultation with the City of London Authority with regards to possible alternatives to give the least disruption to all involved,” climbed down the energy distributor, following the deluge of outraged letters, emails and phonecalls. “As soon as we have any further details, we will be in touch.”
More power to Royds Solicitors, City Road Communications and European Grain & Shipping, who will be conducting business as usual in the meantime.
DOWNHILL FAST
SOMETHING for the City’s skiing fans – the chance to be guided by the greatest downhill skier of all time, Franz Klammer, on a four-night trip next winter staying in four- and five-star European resorts, including a traditional Alps evening.
The trip for up to eight people will be auctioned at the Square Mile Salute at Guildhall on Wednesday.
The fundraising dinner is sold out, but the organiser, Chamberlain’s of London will be accepting email bids from those who can’t attend in person. These bids should be sent to anne@chamberlainsoflondon.com.