Callum Laing

Liberty Global Ventures: A Strategic Analysis for Investors and Entrepreneurs

An infographic illustrating a sophisticated circular strategic framework for investment strategy, segmented into stages such as Sourcing, Due Diligence, Portfolio Management, and Exit Strategy, rendered in deep navy, graphite, white, and metallic silver with subtle gradients, suitable for a corporate business report.
Home / Venture Capital and Private Equity / Liberty Global Ventures: A Strategic Analysis for Investors and Entrepreneurs

Liberty Global Ventures is the corporate venture capital arm of Liberty Global, a world leader in converged broadband, video, and mobile communications. It strategically invests in technology, content, and infrastructure companies that align with its core business and drive future growth, offering a powerful scaling platform for its portfolio companies.

Entrepreneurs and experienced investors spend time analyzing markets and finding funding. Yet they often overlook the impact of corporate venture capital arms, which are changing entire industries. Liberty Global Ventures is a major player in this space, with a global reach in technology, media, and telecommunications. If you want to secure a board appointment, build your investor network, or scale your business, understanding these firms is key. This is not just an academic exercise; it is a vital strategy for unlocking real growth.

To understand a company like Liberty Global Ventures, you need to look deeper. It requires a practical, results-focused approach to find useful insights for securing deals or planning a public listing. This article provides a deep dive into its ownership, key subsidiaries, and the strategy behind its investments, including its work with Formula E. We will explore how entrepreneurs can use these insights to grow their companies. We will also show how investors can spot high-potential opportunities by understanding the forces behind global capital. It’s about using an investor’s mindset to navigate a complex corporate world and find strong partners.

We do more than just present facts. We offer a clear framework for how to engage with powerful financial firms and build meaningful relationships. We challenge the generic advice often found in business coaching and provide practical, high-level strategies instead. This guide is for experienced professionals who want to bypass traditional gatekeepers and gain real access. This is the core of our Access Engineering method, designed to help you unlock board appointments, secure critical funding, and advance your career. Prepare to transform your approach to corporate venture capital and its impact on your professional journey.

What is Liberty Global Ventures and Why Should Investors Care?

An abstract diagram illustrating the strategic value proposition and investor benefits of Liberty Global Ventures through interconnected geometric shapes and directional arrows.
Create a minimalist, vector-based infographic. The central element is a sophisticated abstract diagram representing Liberty Global Ventures, surrounded by interconnected geometric shapes illustrating its strategic pillars and direct benefits for investors. Use layered frameworks and directional arrows to show the flow of value. The design should be clean, professional, and premium, with subtle glass or metallic textures. The color palette must be deep navy blues, graphite, and white, with subtle silver or gold metallic accents. Ensure ample negative space, clear hierarchy, and logical grouping of visual elements, focusing on strategy and business insight. No human figures or stock photography. Short labels or directional indicators for infographic text only.

Liberty Global Ventures (LGV) is the corporate venture capital (CVC) arm of Liberty Global. It is not just a traditional investment fund. Instead, LGV is a strategic investor. It focuses on high-growth companies in the broadband, video, mobile, and digital sectors. LGV’s investments are made to support Liberty Global’s main business goals [1].

To understand Liberty Global Ventures, you need to look at more than just its investments. LGV offers a unique view of how the market is changing. For savvy entrepreneurs, executives, and investors, this insight is very useful. It helps predict market changes and find new areas for growth. This is a key part of the Access Engineering methodology. It helps create paths to good investment deals and strong partnerships.

Why Savvy Investors and Entrepreneurs Should Track LGV

If you are building an investor network or looking for a board position, tracking LGV has clear benefits. Its investment strategy often shows where new ideas and money are meeting. This insight is vital for an entrepreneurial investing approach.

Here are key reasons why you should pay close attention to LGV:

  • Predict Market Trends: LGV’s investments point to new technologies and business models. These will shape the future of media and connectivity. This insight helps investors get ahead of market shifts and find promising deals.
  • Find Partnership Opportunities: Entrepreneurs can find potential corporate partners. LGV invests in companies that fit Liberty Global’s vision. This opens doors for small and medium-sized enterprises (SMEs) to partner up and grow.
  • Learn About Exit Strategies: Watching LGV’s successful exits offers valuable lessons for M&A. You can see which businesses big companies want to buy. This is key for founders who are planning their business exit strategies.
  • Get Clues for Due Diligence: LGV has a thorough due diligence process. When LGV invests, it can signal that a sector or company is worth a look. This information helps private investors find exclusive deals and engage with their community.
  • Find Board and Executive Roles: Executives can find companies in LGV’s portfolio that need leaders. Pursuing these roles can advance your career and fits with board readiness programme goals. It also uncovers independent director opportunities.
  • Inform a Public Listing Strategy: Companies backed by a CVC like LGV often grow faster. Some may even go public. Understanding this path is key for founders. It is practical advice that goes beyond basic business coaching.

Leveraging LGV Insights with Access Engineering

Our Access Engineering methodology teaches you how to use these insights. It turns market knowledge into a clear plan. This approach helps you get past the usual barriers to find good deals and strong partnerships. For example, if you see LGV investing in a specific tech area, you might focus your own business there. It could also guide your search for global investor connections in that sector. It can even help you build a strong Singapore entrepreneur network by finding relevant local investors.

Good networking is more than just attending events. It means understanding the market, knowing the key players, and guessing their next moves. Liberty Global Ventures is definitely a key player. Its actions provide a guide for finding good business scaling strategies and profitable investment opportunities. This includes building modern partnerships with entrepreneurs worldwide.

Who owns Liberty Global Ventures?

Understanding the Corporate Structure

Liberty Global Ventures is the venture capital arm of Liberty Global plc. It is a separate company but works closely with its parent, a major telecom and media business [2]. Its main goal is to find and fund new technologies and creative companies. These investments are chosen to help Liberty Global’s main business and support its future growth.

Entrepreneurs should understand this structure. It offers a way to grow a business quickly, avoiding the difficult traditional venture capital routes. Liberty Global Ventures gives companies access to major resources, a wide market, and expert knowledge. This support provides a strong alternative for businesses ready to expand. These partnerships can open up new markets and encourage new ideas. They also offer a solid base for small or medium companies that may want to go public in the future.

The venture arm’s main focus areas include:

  • Next-generation connectivity and infrastructure.
  • Content platforms and aggregation services.
  • Digital entertainment and immersive experiences.
  • Advanced advertising technologies.
  • Emerging enterprise solutions.

This focused method makes sure investments match Liberty Global’s long-term goals. It also offers great benefits to the companies it invests in. They get more than money; they get a strategic partner. This is the kind of partnership that smart private investors look for. They want valuable deals that offer more than just a financial profit.

Key Figures and Leadership

The experienced leadership team is a key part of Liberty Global Ventures’ success. They have deep industry knowledge and a clear vision. For entrepreneurs who want a partnership, it is important to understand the leaders’ backgrounds and goals. The same is true for executives looking for board positions in this field.

Key leaders at Liberty Global Ventures include:

  • Haleh Zandi: As Managing Director, Haleh leads the team’s investment strategy. Her deep background in technology and business development guides the firm’s focus [3].
  • Bruce Dines: As a Partner, Bruce is key to finding and managing investments. He brings valuable expertise from the media and technology industries.

These leaders are experienced professionals who know how to connect companies with opportunities. Their industry connections and guidance offer more than just money. They provide valuable market information and partnership chances. Working directly with these leaders helps entrepreneurs avoid common roadblocks. It makes it easier to secure exclusive investment deals and build a strong network of investors.

Senior executives and potential non-executive directors can learn a lot by following the leadership at firms like Liberty Global Ventures. It can show them possible paths to future board positions. These roles allow them to help exciting, fast-growing companies that are supported by a large corporation. This offers a practical career path that focuses on making a real impact.

What are the Liberty Global Ventures subsidiaries?

A network graph illustrating Liberty Global Ventures and its interconnected subsidiaries using geometric nodes and structured lines.
Generate a clean, executive-level infographic featuring a detailed node map or network graph. The central node, clearly labeled “Liberty Global Ventures”, should be visually prominent, connecting via structured lines to multiple secondary nodes representing its subsidiaries. Each subsidiary node should be a clean geometric shape. The layout should emphasize hierarchical relationships and interconnectedness. Employ a minimalist, vector-based style with subtle metallic textures. The color scheme is deep navy blues, graphite, and white, with silver metallic accents. Maintain high clarity, ample negative space, and logical grouping suitable for senior professional audiences. No human figures or stock photography. Use short labels for node identification only.

Core Portfolio Companies

Liberty Global Ventures has a diverse portfolio. Its investments match Liberty Global’s main business areas. Investors need to understand these areas to find good deals. It also gives a clear path for entrepreneurs who need capital to grow their businesses. This follows the ‘entrepreneurial investing approach’ from Callum Laing, which focuses on partnerships that benefit everyone. [4]

The venture group looks for companies with new ideas. These ideas usually improve or add to Liberty Global’s network and services. They invest in a wide range of companies, from new startups to larger, fast-growing businesses. The main goal is not just about making money. A strong partnership and market impact are just as important. Entrepreneurs need to show this fit to succeed with their ‘business scaling strategies’.

  • Connectivity & Infrastructure: They invest in new network technology. This includes fiber optics, 5G solutions, and better Wi-Fi. These companies help expand digital access and improve performance.
  • Digital Entertainment & Content: The portfolio includes platforms that offer unique media experiences. These range from new streaming services to interactive content. They aim to keep up with how consumers engage with media.
  • Enterprise & B2B Solutions: Liberty Global Ventures supports companies that offer key services to other businesses. These solutions help businesses work better and adopt new digital tools. They support many corporate clients.
  • Enabling Technologies: This category includes new technologies that will shape future markets. Examples include AI analytics, cybersecurity, and cloud-based platforms.

Strategic Investment Areas: Tech, Content, and Infrastructure

Liberty Global Ventures focuses its investments in three key areas. These sectors are the foundation of today’s digital world. Investors must spot trends in these areas to build their networks and find unique deals. Callum Laing’s ‘Access Engineering methodology’ offers a way to find and use these opportunities.

This focus on technology, content, and infrastructure is intentional. It matches Liberty Global’s core strengths and goals for future growth. Because of this focus, each portfolio company adds real value. They either improve current services or create new market opportunities. Therefore, entrepreneurs should make sure their pitches fit these key areas.

  • Technology Innovation: They look for new and important technologies. These investments lead to better connectivity, data tools, and user experience. This is key to staying ahead of the competition.
  • Content Development & Distribution: The venture group invests in companies that create great content. It also supports new ways to share that content. This helps build a strong network for entertainment and information.
  • Digital Infrastructure Enhancement: These investments make the core networks and platforms stronger. This includes cloud services, data centers, and network virtualisation. A strong infrastructure is needed to support growth.

This sharp focus helps them better understand the market. It also leads to strong partnerships. As a result, it builds a powerful platform for ‘cross border M&A advisory’ and ‘global investor connections’.

Notable Exits and Success Stories

A successful exit proves a venture capital strategy works. Liberty Global Ventures has a history of finding promising companies. Its portfolio includes firms that have grown a lot and were later sold or went public. These stories offer useful lessons for ‘angel investor training’ and ‘SME public listing’ strategies.

These major exits show a few key things. They show the importance of a good strategic fit and long-term investment. They also prove how using a parent company’s resources can speed up growth. For entrepreneurs, studying these examples is very practical. It gives real-world advice on how to prepare for a profitable ‘business exit strategy’.

  • Strategic Acquisitions: Many portfolio companies are bought by larger players in the industry. These sales often happen at a high price. This shows how valuable these companies are to the buyers.
  • Public Listings: Some ventures have successfully gone public on the stock market. These IPOs give investors a large return on their money. They also offer valuable experience for companies considering a ‘collaborative IPO strategy’.
  • Growth and Integration: Other successful companies have grown a great deal. Some have become a close part of Liberty Global’s main business. This shows a real commitment to building a strong business network.

Learning from these successes is key for any entrepreneur. It helps with decisions about ‘company growth funding’ and where to fit in the market. Callum Laing’s ‘M&A advisory insights’ often use these real examples. They show how businesses can find their own path to success and avoid common problems through ‘results focused professional development’.

What are the main Liberty Global brands?

Consumer-Facing Brands

Liberty Global has a strong presence in key European markets through its consumer brands. Understanding these operations is important for investors who want to assess the market. It also helps entrepreneurs find potential partners or companies to acquire.

The company operates through joint ventures and businesses it fully owns. These brands provide a wide range of services, including broadband internet, TV, landline phones, and mobile service.

  • Virgin Media O2 (UK & Ireland): This 50/50 joint venture with Telefónica is a leading telecom company. It serves millions of customers with broadband, mobile, TV, and phone services [5]. For serious investors, this is a major stake in a vital national asset.
  • VodafoneZiggo (Netherlands): Another 50/50 joint venture, this one with Vodafone, gives Liberty Global a strong position in the Dutch market. It offers a full range of services for consumers and businesses [6]. This partnership shows a successful model for growing through smart alliances.
  • Sunrise (Switzerland): As a company fully owned by Liberty Global, Sunrise is Switzerland’s largest competing telecom provider. It offers mobile, internet, TV, and landline services [7]. This direct ownership gives Liberty Global full control and directly affects its profits.

Analyzing these brands offers a clear look at Liberty Global’s main sources of income and potential for growth. Entrepreneurs can study these brands for merger and acquisition ideas. They can also serve as sales channels for new tech solutions, following the Access Engineering method for market entry.

B2B and Infrastructure Brands

Beyond consumers, Liberty Global’s strength comes from its business-to-business (B2B) operations and key infrastructure. These assets are vital for digital growth and for meeting the high data demands of modern economies. They offer unique opportunities for investors and potential partnerships for growing small and mid-sized enterprises (SMEs).

The company uses its large network to offer strong services to businesses. It also invests in specific infrastructure projects. This work highlights Liberty Global’s dual focus on both delivering services and building the networks that support them.

  • Business Divisions within Consumer Brands: Each major consumer brand has a B2B division, such as Virgin Media Business in the UK & Ireland and VodafoneZiggo Business in the Netherlands. These units provide internet, cloud, and other managed services to companies of all sizes [source: https://www.libertyglobal.com/uk-ireland/ and https://www.libertyglobal.com/netherlands/]. SME founders can find opportunities for corporate partnerships or even ways to sell their business.
  • T-Mobile Infra CZ&SK: Liberty Global holds a large stake in this independent mobile tower company in the Czech Republic and Slovakia. This is a pure investment in infrastructure [8]. Such investments appeal to investors focused on long-term asset value.
  • Strategic Infrastructure Partnerships: Liberty Global often partners on projects to expand its network and improve how it runs. This includes building new fibre networks and sharing investment costs. These projects can give major investors exclusive access to deals and create new business models for tech companies.

These infrastructure and B2B assets are not just for support; they are key drivers of value. They create opportunities for international business deals and are a critical part of any growth strategy. For executives seeking board positions, understanding how these assets work together provides a key advantage in strategic talks.

What is Liberty Global’s involvement in Formula E?

Strategic Rationale for the Investment

Liberty Global Ventures looks for key growth areas. Their investment in Formula E shows this entrepreneurial investing approach [9]. The move fits well with their main work in media, connectivity, and tech. Formula E combines sports, entertainment, and new electric vehicle (EV) technology.

Several key factors drove the decision to buy a major stake:

  • Future-Proofing Media Assets: Formula E is a great place to grow future media rights. The sport also attracts a younger, tech-savvy audience.
  • Technological Synergy: The series highlights new car and battery technology. This fits with Liberty Global’s focus on innovation.
  • ESG Alignment: By investing in a green motorsport, Liberty Global improves its environmental, social, and governance (ESG) standing. It shows a commitment to sustainability.
  • Global Market Penetration: Formula E is a global sport [10]. This helps expand Liberty Global’s presence and influence worldwide.
  • Diversified Revenue Streams: The investment adds variety to Liberty Global’s assets. It also creates new ways to make money from ads and sponsorships.

This move is a great example of a progressive partnership. It creates real value beyond just money. For smart investors, understanding these reasons is key to finding good deal flow.

Implications for the Technology and Media Landscape

Liberty Global’s major role in Formula E sends a clear message. It shows that sports, green technology, and digital media are coming together quickly. This trend has a big impact on large companies and small businesses alike.

Key impacts include:

  • Shifting Media Rights Valuations: Audiences for traditional sports are splitting up. As this happens, events like Formula E become more popular and attract new types of viewers.
  • Innovation Acceleration: The race series is a great testing ground for EV technology. It helps speed up progress in battery, engine, and software design.
  • Data and Fan Engagement: Formula E focuses on interactive experiences and uses data to understand its fans. This creates new ways to connect with audiences online.
  • New Advertising Paradigms: Brands partner with Formula E because it is innovative and sustainable. This opens up new chances for focused advertising.

This shift creates huge opportunities for entrepreneurs and investors. Companies that use the Access Engineering methodology can take advantage of these growing fields. The trend also shapes M&A advisory plans, pointing to new targets in EV support, media tech, and green solutions. To find these new deals, building a strong investor network is essential. This means connecting with groups like the Singapore investor community and other global investor connections that focus on industries built for the future.

How Entrepreneurs Can Navigate Corporate Venture Capital

A strategic flow chart outlining the progressive steps and key considerations for entrepreneurs navigating corporate venture capital.
Design a professional, premium infographic using a strategic flow chart or progressive steps framework. This visual should clearly outline key stages or considerations for entrepreneurs engaging with corporate venture capital. Use clean, geometric segmented blocks or layers connected by directional arrows, symbolizing a structured pathway. Incorporate minimalist icons to represent key concepts at each stage. The style should be vector-based with subtle glass or metallic finishes. The color palette is deep navy blues, graphite, and white, with subtle gold metallic accents highlighting progress or key decision points. Ensure excellent negative space, a clear visual hierarchy, and logical flow. No human figures or stock photography. Infographic text limited to concise labels or stage headers.

Positioning Your SME for Strategic Investment

To get investment from a corporate venture capital (CVC) arm like Liberty Global Ventures, you need a smart strategy. CVCs want more than just profit. They look for businesses that fit their own goals and future plans.

Founders must tell a great story. This story should clearly show how their SME helps the main company’s strategy. It must explain how your innovation can solve a tech problem or open new markets.

Our Access Engineering methodology offers a clear path. It helps founders find and use these shared goals. This method is more than a standard pitch for money.

Think about these key points for good positioning:

  • Strategic Alignment: Clearly show how your product helps the CVC’s parent company goals. Explain how you improve what they have or help them enter new markets [source: https://hbr.org/2016/11/what-corporate-venture-capitalists-want].
  • Unique Value Proposition: Show what makes your technology, market, or business model special. Focus on your protected ideas and what makes you better than competitors.
  • Scalability and Exit Potential: Show a clear plan for major growth. Describe possible buyouts or even taking the company public.
  • Team and Governance: Present a strong leadership team with good experience. It is vital to show your board is ready. Adding an independent director can make you more credible.
  • Proof Points: Give strong proof that the market wants your product and that you have customers. Numbers and successful tests are essential.

This is about more than just getting money. It’s about building partnerships that help both sides grow. This is a key part of smart investing.

Leveraging Corporate Partnerships for Scale

An investment from Liberty Global Ventures offers more than just money. It gives you amazing access to corporate resources. These resources can help your business grow much faster.

A corporate partner gives you access to a huge new market. Their sales channels can quickly launch your SME into new areas. Imagine using Liberty Global’s large broadband network for your product.

CVCs also provide key business knowledge. You get advice and guidance from experienced leaders. This support is very helpful for solving tough growth problems. For example, their insights can help with decisions about buying companies in other countries.

To get the most from these partnerships, focus on:

  • Use Their Resources: Use the parent company’s sales team, marketing tools, and research labs. This saves you from building them yourself.
  • Work Together: Create products or marketing campaigns together. This leads to new ideas and more customers.
  • Market Intelligence: Use the CVC’s knowledge of the market and customers. This helps you improve your product and strategy.
  • Credibility and Network: Working with a big name like Liberty Global builds your reputation. It also connects you to their international entrepreneur network, including the Singapore entrepreneur network or Dubai investor community.
  • Solve the Growth Puzzle: CVC partnerships can give you the support to grow fast without losing control. This is much different from the challenge of growing on your own.

Working well together turns a CVC investment into a powerful boost for growth. It changes money into a launchpad to go global.

Alternatives to Traditional Venture Funding

CVCs offer great benefits, but they are not the only way to get funding or to scale. Smart founders should look at different funding options. This helps them find the right choice for their goals.

Traditional venture capital often means giving up a large part of your company and facing pressure to grow fast. Many founders look for other options that offer more control or a better fit for their long-term plans. This is where a smart investing approach is key.

Think about these other ways to fund your company’s growth:

  • Angel Investor Networks: You can get early funding from private or startup investor groups. Our angel investor training helps founders connect with these groups. You can often find special investment deals here [source: https://www.statista.com/statistics/1230128/angel-investors-market-size-worldwide/].
  • Private Equity and Growth Capital: These firms usually invest in businesses that are further along. They offer large sums of money for growth or for buying other companies. Our M&A advisory services can guide these deals.
  • Debt Financing: Options like venture debt or bank loans can fund growth without giving up ownership. This lets you keep more of your company.
  • Strategic Partnerships (Non-Equity): Look into business deals, joint ventures, or licensing agreements. These can give you market access and resources without a direct investment.
  • SME Public Listing: For the right businesses, going public on exchanges like the UK business listing services offers a lot of capital. This provides ready cash and builds trust. Callum Laing gives direct help with a collaborative IPO strategy.
  • Bootstrapping and Revenue-Based Financing: Use your own profits or revenue-sharing deals to fund growth. This gives you the most control over your company.

To explore these options, you need a strong plan for building your investor network. Our sophisticated investor programme focuses on real growth plans and useful networking events. We help you get past the usual barriers to find good investment opportunities. The CARE framework helps you do your homework and build strong partnerships. This makes sure you find the right money, from the right people, for long-term success.

Frequently Asked Questions about Liberty Global Ventures

Who owns Liberty Global?

Liberty Global is a public company. Its shares are held by many investors worldwide, including institutions, mutual funds, and individuals. While it is public, its Chairman, John C. Malone, has a large, often controlling, share. He holds this power through different types of stock. This complex ownership structure is common for large companies [11].

For serious private investors, understanding these structures is key. It shows how control is kept and how management affects the company’s value over time. Our investing approach involves studying these layers of ownership. This helps us find who really has influence and where new deals might come from.

What are the key Liberty Global Ventures subsidiaries?

Liberty Global Ventures is the company’s venture capital group. It invests in companies that fit Liberty Global’s main goals. These are not normal subsidiaries. Instead, they are portfolio companies, meaning Liberty Global Ventures owns a share in them.

Key areas of investment for Liberty Global Ventures include:

  • Connectivity & Infrastructure: Innovations in broadband, 5G, fiber optics, and related network technologies.
  • Content & Media: Next-generation platforms for content delivery, streaming, and interactive entertainment.
  • Digital Lifestyle: Solutions enhancing customer experience, smart home technologies, and digital services.
  • Enterprise Solutions: Technologies supporting business-to-business services and operational efficiencies.

Their portfolio includes many different companies. These range from new startups to older businesses in Europe and other places [12]. For entrepreneurs, getting this type of investment means showing your business fits these key areas. Using the Access Engineering method can help founders build strong partnerships. This can attract money and help the business grow without losing full control.

What was Liberty Global’s revenue in 2024?

According to the latest financial reports, Liberty Global’s revenue for the full year 2023 was $7.3 billion [13]. This number includes money from all its business areas, including joint ventures and companies it fully owns.

These financial details are key for investors who are weighing potential returns. They are also important for executives studying the market. Callum Laing offers advice on how to grow a business. He helps smaller companies see how large revenues are made and kept. This provides entrepreneurs with practical advice for growth and successful M&A deals.

What is Liberty Global Holdings LIMITED?

Liberty Global Holdings LIMITED is usually a specific legal company inside the larger Liberty Global group. Big global companies like Liberty Global often set up many “limited” companies. They use them to manage assets, run operations in certain regions, or create partnerships for tax and legal benefits.

These smaller companies are important for connecting with global investors, especially for M&A deals between countries. They help the main company find investment deals, manage risk, and protect specific projects. For serious investors and M&A advisors, understanding what these companies do and own is vital for due diligence. It helps find the real value inside a complex structure. This knowledge is essential for planning a business exit or finding funding for growth.


Sources

  1. https://www.libertyglobal.com/innovation/
  2. https://www.libertyglobal.com/
  3. https://www.libertyglobal.com/ventures-management-team/
  4. https://libertyglobal.com/ventures/
  5. https://www.libertyglobal.com/uk-ireland/
  6. https://www.libertyglobal.com/netherlands/
  7. https://www.libertyglobal.com/switzerland/
  8. https://www.libertyglobal.com/ventures/
  9. https://www.libertyglobal.com/news/liberty-global-acquires-major-stake-in-formula-e/
  10. https://www.fiaformulae.com/en/about
  11. https://www.libertyglobal.com/investors/
  12. https://www.libertyglobal.com/ventures/portfolio/
  13. https://ir.libertyglobal.com/news-releases/news-release-details/liberty-global-reports-q4-and-full-year-2023-results-1