Just two-weeks after opening investment opportunities to the public, Invivo Wines has become New Zealand’s largest equity crowdfunded company.
The innovative company was the first winery in the Southern Hemisphere to launch an equity crowdfunding exercise in 2015 and with their latest capital raise, Invivo has now received more than $4 million from over 687 investors through a combination of equity crowdfunding and wholesale investments. The offer has been lead managed by Miro Capital Advisory, with the online portion being hosted on Snowball Effect while the offline portion involved the participation of several leading NZX Firms.
Lightbourne says Invivo’s equity crowdfunding consists of a similar mix of everyday consumers who love the brand and would like to become part of the Invivo story, and wholesale investors who have made significant investments.
“Our previous equity crowdfunding exercise in 2015 with Snowball Effect, made records at the time, and we’re pleased to see such a positive response from the public once again,” he said. “Based on the company’s latest valuation, those that invested in Invivo Wines in 2015 have seen their share price jump 140 per cent, along with the opportunity to attend a couple of fun AGMs.”
Since Invivo’s previous crowdfunding exercise in 2015, the company’s sales have increased from $3.7 million to a projected $13.9 million this financial year.
Since New Zealand’s crowdfunding legislation was passed in 2014, the local industry as a whole has raised a combined $66.3 million across all equity crowdfunding offers.
Internationally, the world’s largest crowdfunded company, craft beer operation BrewDog, has raised £50 million from almost 70,000 investors and is now valued at £1 billion with recent private equity investment.