Sunday 18 August 2019

BrewDog launches sixth craft beer crowdfunding round

The Equity for Punks scheme has raised millions for the brewer since 2010.

BrewDog is set to raise another £7 million from craft beer fans (PA)
BrewDog is set to raise another £7 million from craft beer fans (PA)

By Alys Key, Press Association City Reporter

BrewDog is inviting beer fans to invest in the business for the sixth time in just nine years, as it raises funds for new breweries, bars and other projects.

The pugnacious craft brewer told existing investors – known as “equity punks” – over the weekend that it would seek to raise a fresh £7 million.

If the company reaches the targeted amount, it would bring the total raised since BrewDog’s first equity crowdfunding round in 2010 to £74 million.

“Since Equity for Punks first began we have been blown away by their enthusiasm in rising up against bad beer alongside us,” said founder James Watt.

“The growth BrewDog has shown over the last decade could only have been achieved with the encouragement and support of our kick-ass Equity Punk community. But we are far from being done yet.”

The move comes just six months after the fifth Equity for Punks round closed in October last year, raising a total of £26 million.

BrewDog said the new cash would go towards several projects announced this month. These include the opening of the third DogHouse hotel in London and the development of a recently acquired brewery in Germany.

Announcing the takeover of the Stone Brewing taproom in Berlin last week, Mr Watt said the decision was linked to Brexit.

“Uncertainty surrounding Brexit is crippling British business,” he tweeted. “We are not going to let stupid politicians f*** up our business. So we took our destiny into our own hands and bought a brewery on the continent.”

The Punk IPA maker is also building a brewery in Brisbane, Australia and plans to start work on one in China by 2020.

The latest crowdfunding round will run for an initial 90 days until July 5.

As part of the funding drive, the brewer has said every investor will be entered into a draw to win £1 million worth of shares.

BrewDog has previously said it will aim to float on the stock market in the next few years, giving an exit to existing investors.

Mr Watt told Press Association last year that an initial public offering (IPO) was still on the cards for as soon as 2020.

PA Media

Today's news headlines, directly to your inbox every morning.

Editors Choice

Also in World News