Sparkling success for Cripps’ client3 October, 2014
Congratulations to Cripps’ client Chapel Down for its record-breaking success in raising nearly £4m in the UK’s largest crowdfunding campaign.
The award-winning market leader in English wines and beers took just 24 days to secure £3.95m from more than 1,470 investors in 20 countries.
Phil Cunningham, who worked with colleagues Salim Somjee and Helen Garner as part of the Cripps team advising Chapel Down, said: “Not only is Chapel Down the first UK listed company in the world to raise money using the crowdfunding model but they have also set a new global record for the amount of equity raised in this way.
“The fact Chapel Down reached its target in such an incredibly quick time demonstrates how highly the public value this exciting and innovative brand, which is a true leader in the English drinks market.”
Individual investments range from £10 to more than £250,000. The funds will be used to enable Chapel Down to satisfy the ever-increasing demand for its award-winning products. Plans include planting more vines, building a new winery, brewery and visitor attraction, and extending its hospitality facility in Tenterden.
Commenting on the successful completion of the fundraising, Frazer Thompson, CEO of Chapel Down, said: “We are absolutely delighted with the success of our equity crowdfunding offer. Raising the money is obviously fantastic but the fact that over 1,470 investors have decided to share in the Chapel Down story is just as important.
“My thanks to Cripps and everyone else who helped make this campaign such a phenomenal success.”