Bassist, keyboardist, producer and label owner from Liverpool (UK) born in 1958. He co-founded Dalek I in November 1977 with Alan Gill, which he left in 1978 to join Big In Japan until they split later that year. In 1979 he replaced Paul Simpson in Teardrop Explodes, he was with the band, on and off, until they disbanded in 1983.

In 1978 he founded Zoo Records together with Bill Drummond, releasing early Liverpool punk and new wave music. Under the name The Chameleons, Balfe and Drummond produced several artists; they released a single under the name Lori & The Chameleons.

After The Teardrop Explodes disbanded in 1983 he set up a second label, Food, which released Blur, among other artists. In 1994 EMI Records (UK) took complete control over the label.

He now works as freelance writer and director.