Scottish craft brewery, BrewDog has raised over £1m less than two days into the latest round of it 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.
This latest round of Equity for Punks is looking to raise £10m, with the potential to extend to £50m, by releasing 421,052 new B shares.
The initiative will run for an initial three months, closing on 15 January 2018. Shares cost £23.75 each are issued in blocks of two, with a minimum investment of two shares for £47.50.
The initial target raise of £10m will be used to build a new Brewhouse at its Ellon brewery to help fulfil 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 £50m will support accelerated growth across the global business including pouring £10m into opening a new brewery in Asia, and £5m to opening one in Australia.
The group confirmed that £3m 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 £2m 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 cofounder, James Watt commented, “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.”
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, Aberdeenshire and Columbus, Ohio. Much of its growth has been supported by Equity for Punks, which has raised £41million since 2009.
