Lyre’s names chief investment officer

Non-alcoholic ‘spirits’ producer Lyre’s has hired Roscoe Roman as its chief investment officer to help secure new funding and drive growth in key markets.

Roman joins Lyre’s after working as an investment banker for Citigroup and Credit Suisse.

In his new position, he will be responsible for the company’s next major private growth capital raise this year, which is expected to be the biggest within the no- and low-alcohol ‘spirits’ sector.

His main focus will see him target funds from new and existing investors to leverage the company’s sales presence, as well as ‘supercharge’ growth in established markets.

Furthermore, Lyre’s said Roman will capitalise on the company’s ‘strong first-mover advantage’ in key regions such as the Middle East, Far East and Asia Minor. Lyre’s is currently available in 63 markets.

Roman said: “Lyre’s is the only truly global player within the category capable of providing customers with genuinely enjoyable alternatives to alcoholic beverages at home and in bars and restaurants. My conviction is supported by my decision to become a meaningful shareholder of Lyre’s.”

Roman will oversee capital allocation and will establish investor relations and shareholder reporting functions for the group’s shareholder base, which includes Morgan Creek Capital Management (early backers of Alibaba, SpaceX, Lyft, Drizly, Ninja Van and Allbirds) and D Squared Capital.

Roman will also help develop the group’s inorganic growth strategy in the long-term, leveraging the firm’s distribution relationships, e-commerce, production scope, and product development capabilities.

Prior to joining Lyre’s, Roman served as a director at Citigroup where he lead client coverage and managed the bank’s relationship with Lyre’s.

Before Citigroup, he was an investment banker at Credit Suisse in London, before moving to alternative asset management firm Apollo Global Management.

Mark Livings, Lyre’s CEO and co-founder, added: “Having worked with Lyre’s at Citigroup, Roscoe knows our business extremely well, so we’re thrilled he’s decided to make the leap from investment banking to help us consolidate our position as the leader in this fast-growing consumer category.

“Roscoe has exactly the expertise required to help drive the next phase of growth and ultimately support our mission of building our business to be a global leader in the beverage sector.”

Lyre’s recently completed a £20 million (US$27.2m) fundraising round, with the business now valued at £270m (US$367.1m).