Invivo ‘ecstatic’ at crowdfunding record

30th March, 2015 by Gabriel Stone

A New Zealand winery has become the country’s first business to attract the NZ$2 million (£1m) maximum investment permitted via a crowdfunding campaign.

Rob Cameron and Tim Lightbourne of Invivo Wines

Rob Cameron and Tim Lightbourne of Invivo Wines

Invivo Wines reached this limit less than two weeks after launching its offer on the Snowball Effect crowdfunding platform, bringing on board 439 new shareholders in exchange for 20% equity.

The response raised 400% more than the Auckland-based company’s original target, which founders Tim Lightbourne and Rob Cameron were seeking in order to expand their export business.

An increasingly popular method for wine and beer producers seeking investment, crowdfunding has only been possible in New Zealand since the end of July 2014, when the country’s financial authorities relaxed legislation.

Having closed the offer two weeks early, Lightbourne told the New Zealand Herald he was “ecstatic” about the final investment, describing it as “a vote of confidence in us but also in New Zealand wine.”

Established in 2008, Invivo Wines has reported 200% revenue growth since 2011 and is aiming to hit sales worth NZ$25m (£12.6m) by 2020. This projection comes at a buoyant time for New Zealand wines as a whole, with exports rising 8.2% last year to hit a record high.

 

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe to our newsletters

Job vacancies

Brand Ambassador – Santa Rita Estates

Santa Rita Estates
London or Hertfordshire but with flexibility to travel, UK

Sales Executive - Wine and Spirits Awards

The Drinks Business
Central London, UK

On-Trade Channel Manager

Delegat Europe Limited (UK)
London / Midlands, GB

Trade Marketing Analyst

Delegat Europe (UK)
London, GB

Key Account Executive

Delegat Europe Limited (UK)
London / Midlands, GB

Senior National Account Manager

Conviviality
London, UK

ON-TRADE Sales Executive

Roberson Wine
London, UK

OFF-TRADE Sales Executive

Roberson Wine
London, UK

Judging Week Runners

Decanter World Wine Awards
ExCel Centre, London E16, UK

Sales Administrator

Les Caves de Pyrène
Guildford, UK

Retail Commercial Executive

Laithwaite's Wine
Theale, Berkshire

Wine Buyer

Conviviality Plc
Crewe, UK

Sales Account Manager - On-Trade

Berkmann Wine Cellars
Liverpool

Sales Account Manager - On-Trade

Berkmann Wine Cellars
M3/M4 corridor

Media Sales Manager - Hong Kong

The Drinks Business Hong Kong
Hong Kong

The Global Merlot Masters 2017

Deadline : 31st March 2017

The Prosecco Masters 2017

Deadline : 10th March 2017

db Awards 2017

Deadline : 28th April 2017

The Global Organic Masters 2017

Deadline : 3rd March 2017

Click to view more

The Global Sparkling Masters

the drinks business is thrilled to announce the launch of The Global Sparkling Masters

The Global Rosé Masters 2016

the drinks business is proud to announce the launch of the Global Rosé Masters 2016.

The Prosecco Masters 2016

Now in its third year, the competition will reflect the growth in popularity of this fresh and exciting sparkling wine from the picturesque regions of Veneto and Friuli.

The Global Pinot Noir Masters 2016

After the success of last year’s competition that judged over 250 wines from no less than 16 countries, the drinks business is proud to announce the third year of the Global Pinot Noir Masters

Click to view more