Possible Clues:

• South American inhabitant exercises by means of joining in race
• Citizen of Lima, perhaps
• Organised rave-up in Paddington, for example
• Rejected simple plan primarily to protect ancient city of South America
• National sport gets through in jail
• Of someone from Lima, say
• Venture capitalist gets rid of cattle - it's native to Lima
• Eg, native of Lima
• South American jockey in rave-up
• Paddington's nationality