Innis & Gunn launches drive for £1m cash injection with fresh crowdfund campaign
Edinburgh-based craft beer firm Innis & Gunn is this week launching a crowdfunding initiative with the aim of raising £1 million for two per cent of its share capital.
Backers can invest a minimum of £10 in the AdventureCapital scheme, which will be used to expand the brewer’s Beer Kitchen bar chain and accelerate works at the recently acquired Inveralmond Brewery, the name of which has been changed to the Innis & Gunn Brewery – all with the ultimate aim of doubling turnover at the firm to £25 million over the next three years.
Founder Dougal Sharp said: “To give everyone the chance to own a piece of the company eels like the right step to take now, and we know from experience that the community we build will become valuable to us.”
After giving its 57 staff the chance to invest, the initiative launched yesterday for 1,105 Beer Bond bondholders, and last night 18 per cent of the £1m target had been reached. It is open to the public from today.
Mr Sharp did not rule out further equity sales by the same method, but said he was fully focused on the current round, which would help it expand the Beer Kitchen estate.
A St Andrews venue opens this month, joining Edinburgh and Dundee outlets. Glasgow and Toronto venues are also planned.
Mr Sharp said a further four Scottish venues were scheduled for 2017.
Following its £3 million acquisition of Inveralmond in June, Innis & Gunn is already producing its Original and Lager brands at the new brewery.