The UK’s 2nd largest craft brewer, Innis & Gunn has surpassed its equity crowdfunding target by £1.5m, raising almost £2.5m from over 2,000 investors, when its Crowdcube powered, AdventureCapital campaign closed last night.
The brewer launched the campaign to the public on 1 November, after a 24-hour exclusive access period for its BeerBond holders. The £500k mark was surpassed in under 48 hours and the target of £1m reached in under 72 hours.
The campaign then moved into ‘overfunding’ for the rest of November, which meant Innis & Gunn accepted further investment in exchange for releasing additional equity. At the close of the campaign, the brewery has sold 4.79% of its share capital.
Innis & Gunn, which aims to double its turnover to £25m over the next three years, will use the monies raised to open an additional four Beer Kitchens in the next 12 months, including locations in England and Canada.
Innis & Gunn currently operates three Beer Kitchens in Edinburgh, Dundee and St Andrews.