Equity crowdfunding rifled out of the gate in New Zealand with one of the most popular sectors to utilize the new form of raising capital: Beer. Renaissance Brewing, founded by iconoclastic Americans who decided to set up a brewery in the land of the Kiwi made NZ history when they launched their funding round on Snowball Effect. In less than 2 weeks $700,000 was raised from 287 investors and equity crowdfunding was officially up in running. The team at Snowball Effect has put together a cool infographic giving a few interesting stats on the crowdfunding round, including:
- Most raised in a single day: $218,102
- 87% male / 13% female investor split
- Majority of investors were from Aukland region but plenty from elsewhere in the country
- 309 boxes will be sent to investors
- Most popular reward level was $2000 where you get a free box of beer delivered every year
Now Renaissance may be the first ever but there will be plenty more interesting companies seeking to raise capital on the Snowball Effect platform. Right now they are crowdfunding a feature film, The Patriarch by Lee Tamahori, who directed hit films like Once Were Warriors and James Bond’s Die Another Day. As of today the project has surpassed their first funding hurdle of raising $300,000 and is now over-funding. Investors in this project may receive a different set of perks like producer credits or tickets to the opening event.
New Zealand is now being touted as one of the Southern Pacific nations leading the way in investment crowdfunding. So cheers to NZ and the team at Snowball Effect.
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