Pete Snyder’s Disruptor Capital, an Alexandria-based angel investment firm, has joined an estimated $5 million funding round aimed at boosting production for a Richmond-based clothing company co-founded by the son of former U.S. Sen. Paul Trible.
The company, Ledbury, whose headquarters is in a tobacco warehouse in a historical section of Richmond, intends to use the investment to help its e-commerce sales and increase its shirt production from about 65,000 this year to a goal of 100,000 in 2015.
Ledbury recently opened two holiday season pop-up stores, one on Wisconsin Avenue in Georgetown and another in Williamsburg, Va.
The company’s products—from shirts to sweaters to ties and socks—are manufactured in small factories across Europe, including Italy and Poland, according to its Website.
The new funds will help create up to 50 new jobs in the United States, according to a news release.
Snyder, who once worked for then-New York Mayor Rudolph Giuliani, lost the Republican nomination for Virginia’s Lieutenant Governor. He plans to join the Ledbury board.
Snyder was an early mover in the social media sector, creating New Media Strategies, a marketing firm that he sold for millions in 2007 to the Meredith Corp.
The deal comes amidst a brouhaha in Virginia over the use of state and Richmond funds for economic development.
“Ledbury is a red hot company with a great future,” said Snyder, a Republican who is considered to be a candidate for the GOP Virginia gubernatorial nomination in 2017. “This is a real economic and job-creating engine. These guys are adding jobs left and right. it is a true entrepreneurial success story.”
Disruptor Capital’s other investments include Pascal Metrics, Echelon Insights, Potomac Research Group and Bills Khakis.
In 2008, business school graduates Paul Trible and Paul Watson, decided to explore the nexus between social commerce and the shirt-making business. They worked under a London tailor to learn the manufacturing end of the business.
The five-year-old company, which uses Italian-woven fabric, makes shirts, ties and sportcoats aimed at the 20- to-40-something market
Trible is the son of Paul Trible Jr., a former Republican U.S. senator who is now president of Christopher Newport University.
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