That was fast. No sooner had I received the notice that Invivo Wines was doing an equity crowdfunding round on Snowball Effect than it crushed its $500,000 NZD target. As of this moment, Invivo is
nearing over $1 million NZD as 170 226 investors pitched in to purchase a portion of the winery. The offer has an overfunding cap of $2 million NZD, for 20% equity, but there is plenty of time to get there as the offer closes on April 13th. This is New Zealand’s very first investment crowdfunding offer for a winery.
— Vaughn Davis (@vaughndavis) March 18, 2015
Popular consumer facing products can be perfect marriage for equity crowdfunding. Paring a popular brand with ownership and perks has generated traction on all crowdfunding platforms. Invivo has naturally combined discounts for shareholders and a tiered rewards level for investors beginning at $1000. Invest $10,000 or more and you will receive two 6 bottle cases with every bottle signed by the winemaker. Even better, you will receive this perk every year that you own your shares.
Invivo Wines is said to be the fastest growing wine brand in New Zealand. The company has experienced 207% sales growth since 2011 and named one of Deloitte’s Fast 50 companies in 2012. The winery has been profitable for quite some time with annual revenues above $5 million. Invivo is currently selling over 10,500 bottles per week that retail in price from $18.99 up to $50.The new capital will assist in an expansion of their business including a push into the United States. Invivo is already in over 17 different markets and 75% of their sales are international. The winery wants to take all that a step further. The operators have diversified into a range of spritzers, “a new take on an 80’s classic” and they want to invest more in this product line.
The company was founded by Rob Cameron and Tim Lightbourne. According to the story, seven years ago they were chatting in a bar in London and talking about how to make wine – better. Jump back to today and here they are “making wine they would like to drink themselves” having created an investment opportunity they would buy into.
Invivo has a well known shareholder on its roster. UK television personality Graham Norton, who is the host of his own show by his own name, is an owner and promotes a private label Savignon Blanc. The company also lists Neville and Liz Findley, founders of fashion label Zambesi, as owners as well.
Interested investors must participate at a minimum level of $1000 ($1/share). The deal is structured with “Investment shares” and “Ordinary Shares”. Ordinary shares are for investors at $100,000 and above. These shares will have full voting rights. Pre-money valuation is set at $8 million.
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