Melbourne’s Dainton Brewery is the latest craft brewery in Australia to announce its intention to launch an equity-based crowdfunding campaign to bolster expansion plans.
Co-founded by father and son Kevin and Dan Dainton, the six-year-old brewery is looking to broaden its horizons.
Located about 45 minutes from Melbourne’s CBD in Carrum Downs, Dan Dainton says he wants to open a more centrally located second venue. He also plans to launch a barrel-ageing and sour beer program, as well as invest in a bottling line.
This will be Dainton’s first equity crowdfunding venture with expressions of interest now open to the public.
The current minimum target is $500,000 but Kevin and Dan hope to raise up to $1 million.
The brewery will offer investment rewards from $100 and up to $10,000 for retail investors. Investors will receive ordinary shares in the company and also be offered priority access to limited-release beers as a reward.
Dan Dainton told Brews News that crowdfunding is something he’s been looking at for some time and that he preferred it to other funding methods because of the collaborative possibilities a crowdfunding campaign might bring to the business.
“Raising money by crowdfunding, to me, that’s about giving more like-minded people the opportunity to be involved and having more collaboration,” he explained.
“I guess the way that we’re looking at it is that we’re getting more family members involved.
“We know that when people have skin in the game so to speak, they’re more invested, they’re more interested and they’re more excited as well.”
Dainton said that the equity raise will help give him more of an idea of what his customers want.
“That way we can more accurately tailor our business to what they need.”
Expressions of interest will close in 16 days time.