Just two-weeks after opening investment opportunities to the public, Invivo Wines has become New Zealand’s largest equity crowdfunded company through Snowball Effect.
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.
“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,” Lightbourne says.
“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.”
Co-founder Rob Cameron adds that this latest round of investment will be used for driving further growth of Invivo’s current range and creating new opportunities.
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.