English winery Chapel Down smashes crowdfunding records
Kent sparkling winery Chapel Down has smashed crowdfunding records by raising £2.9 million through 1,100 investors in just 10 days.
Kent sparkling winery Chapel Down has smashed crowdfunding records by raising £2.9 million through 1,100 investors in just 10 days.
Chapel Down is offering shares through equity crowdfunding site Seedrs to investors to raise capital to fund expansion. Its £1.6 million, buoyed by £600,000 of institutional investment, was reached within days. Investors are continuing to support the initiative, taking it past the previous crowdfunding record of £2.58 million raised by Seedrs itself in January 2014.
Chapel Down breaks crowdfunding recordsFrazer Thompson, chief executive at Chapel Down, belives the future is very bright for English sparkling wine.
"Our smaller investors are more like pilgrims in their passion and commitment to Chapel Down," said chief executive Frazer Thompson.
The crowdfunding initiative is still open to investors on Seedrs and Chapel Down will accept up to £3.95 million.
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Frazer Thompson, chief executive at Chapel Down, belives the future is very bright for English sparkling wine. |
"There is no doubt that there is the appetite for crowdfunding on this scale. We are democratising share ownership and giving benefits to all shareholders. Those who benefit most are those who support us most. We think that's a great proposition and attractive to a very wide range of investors. The future for English wines in general and Chapel Down in particular are very bright."
Chapel Down is planning to use the money raised to plant more vines to meet demand, build a new winery and a brewery as well as extending its Tenterden hospitality facility.
The crowdfunding investors get a range of extra incentives including one third off wines bought direct from the winery if you have pledged more than £560.
Chapel Down has 23 acres of vines across a 68-acre estate. It also owns Kent's largest vineyard in Aylesford, and sources grapes from 13 vineyards across the south east.
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56-58 Church Walk, Burgess Hill, West Sussex, RH15 9AN
Registered in England No. 6646125. VAT No. 938 4452 95
