Snowball Effect (equity crowdfunding)
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Snowball Effect | |
Private | |
Industry | Private Equity |
Founded | Auckland, New Zealand 2012[1] |
Founders |
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Website |
www |
Snowball Effect is a New Zealand-based online investing marketplace, that enables New Zealand companies to offer shares to members of the public.[2] The company was founded in 2012 and launched in August 2014, after being one of the first to acquire an equity crowdfunding license from the Financial Markets Authority.[1][3] As of January 2017 over NZ$20 million has been raised on the platform.
Board of directors
- Stephen Franks
- Francis Reid
- Richard Allen
- Josh Daniell
Highlights
- Snowball Effect was one of the first two companies to acquire licensing from the Financial Markets Authority.
- Launched New Zealand's first equity crowdfunding offer, Renaissance Brewing, on 11 August 2014.
- Aeronavics raised $1.5 million, the second highest amount raised through equity crowdfunding in New Zealand.
- Invivo Wines raised $2 million, at the time, the highest amount raised through equity crowdfunding in New Zealand.
- Snowball Effect begins private capital and wholesale investor services.[4]
Notable Offers
The following is a list of notable offers that have been made through Snowball Effect:
- Renaissance - $700,000[5]
- The Patriarch - $488,800 [6]
- CarbonScape - $764,302 [7]
- Aeronavics $1,500,000[8]
- Invivo Wines - $2,000,000 [9]
- Breathe Easy - $613,428
- Red Witch - $407,772
- Punakaiki Fund - $2,000,000 (crowd funding, June 2015), $889,200 (wholesale, Jan 2016 as part of a $2,240,000 round) and $462,000 (wholesale, Jan 2016 as part of a $2,382,000 round) [10][11]
- Squirrel Group - $3,424,400 [12]
References
- 1 2 Sykes, Caitlin (22 July 2014). "Crowdfunding - Josh Daniell, Snowball Effect". nzherald.co.nz. APN New Zealand Limited. Retrieved 9 February 2015.
- ↑ Fletcher, Hamish (21 October 2013). "Law change to kick start capital raising". nzherald.co.nz. APN New Zealand Limited. Retrieved 10 February 2015.
- ↑ Parks, Andrew (31 July 2014). "FMA issues first equity crowd funding licences". fma.govt.nz. Financial Markets Authority. Retrieved 10 February 2015.
- ↑ "Snowball Effects appoints private capital head". nbr.co.nz. National Business Review. 30 September 2016. Retrieved 20 January 2017.
- ↑ Smellie, Patrick; Keall, Chris (25 August 2014). "Crowd-funding craft brewer gets to $700k target early". nbr.co.nz. National Business Review. Retrieved 9 February 2015.
- ↑ Grant, Nick (16 October 2014). "UPDATED: Film equity offer closes within cooee of crowdfunding cap". nbr.co.nz. National Business Review. Retrieved 9 February 2015.
- ↑ Metherell, Suze (17 November 2014). "CarbonScape locks down minimum $400,000 in crowdfunding". nbr.co.nz. National Business Review. Retrieved 9 February 2015.
- ↑ Small, Jamie (18 February 2015). "Drone company Aeronavics raises $1.5m equity in a week". stuff.co.nz. Stuff.co.nz. Retrieved 24 February 2015.
- ↑ Smylie, Calida (30 March 2015). "Invivo Wines beats equity crowdfunding records". nbr.co.nz. National Business Review. Retrieved 31 March 2015.
- ↑ https://www.nbr.co.nz/article/punakaiki-reaches-2-million-max-snowball-effect-cs-174859
- ↑ https://punakaikifund.co.nz/investors/
- ↑ "Alternative Finance Platform Squirrel Group Surpasses $3M on Snowball Effect". crowdfundinsider.com. Crowdfund Insider. 8 April 2016. Retrieved 10 January 2017.
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