Craft brewery firm BrewDog has raised over £1million just two days into the latest round of its record-breaking crowdfunding scheme, Equity for Punks.
Beer fans clamoured to invest in the brewery which is valued at £1bn, with over one thousand new investors buying shares in the brewery and joining its existing community of over 50,000 Equity Punks.
Having raised over £41m from previous rounds of the record-breaking initiative, in this latest round, BrewDog is looking to raise looking to raise £10million, with a stretch goal of £50million to further its global expansion.
This includes the construction of new breweries in Australia and Asia, the opening of 15 craft beer bars in the UK, increasing the capacity in its UK brewery, and the creation of a dedicated craft beer TV network.
BrewDog will use the investment to further its global expansion, which includes the construction of new breweries in Australia and Asia, the opening of 15 craft beer bars in the UK, increasing the capacity in its UK brewery, and the creation of a dedicated craft beer TV network.
The initiative will run for an initial three months, closing on 15 January 2018.
Shares will cost £23.75 each and be issued in blocks of two, with a minimum investment of two shares for £47.50.
The initial target raise of £10million will be used to build a new Brewhouse at its Ellon brewery to help fulfill volume demand across the UK and Europe.
Further investment will be used to develop its first sour beer facility, The Overworks, which will launch later this year. This world-class facility will allow BrewDog to create a wealth of spontaneously fermented beer styles as it continues to push the boundaries of craft beer.
Any funds raised above its initial target up to a maximum of £50million will support accelerated growth across the global business including pouring £10million into opening a new brewery in Asia, and £5million to opening one in Australia. £3million would be invested into its UK BrewDog bars, with plans to open 15 new bars in 2018, including four brewpub locations.
BrewDog also wants to invest £2million into creating its own TV network dedicated to craft in all walks of life, following the success of its TV show, Brew Dogs, which aired on Esquire Network in the USA and was the most watched show about beer to ever hit the small screen
BrewDog’s phenomenal success has seen its value increase by 2,765% since 2010. It now boasts an 800-strong global team, 47 bars around the world, and two world-class breweries in Ellon and Columbus, Ohio. Much of its growth has been supported by Equity for Punks, which has raised £41million since 2009.
BrewDog cofounder, James Watt said: “It is impossible to deny the significance of this early success of Equity for Punks and what it could mean for our dream to take the craft beer revolution truly global. Raising over £1million in just two days shows the rife passion for a new business model founded in community, and driven by purpose, not profit. Thanks to our Equity Punks, we truly believe we will become the biggest equity crowdfunded business the world has ever seen. This is our time.”
James Watt added: "Our Trojan dog stood overlooking London’s financial district as a stark reminder of the undeniable significance of crowdfunding and our invasion of the status quo. It marked a new dawn and quenched peoples’ thirst for change.”