Brewdog launches second fundraising campaign

BrewDog has launched a second round of fundraising as it looks to raise £2.2m to finance a new eco-brewery and the opening of more bars across the country.

BrewDog, the Scottish microbrewer and pub operator, has launched a second round of fundraising via an equity issue, as it looks to raise £2.2m to finance a new eco-brewery and the opening of more bars across the country.

The company, which launched in 2007, has branded the latest investment opportunity Equity for Punks and will again offer members of the public the chance to buy shares in the company online.

The group looked to raise £2.3m through its first equity issue at the end of 2009, but is believed to have fallen short of that figure, raising around £700,000. According to The Times, this time around, the cost of entry to potential investors is £23.75 instead of the previous £23, with a minimum subscription for four costing £95.

The new investment will be used to expand its current two-strong bar operation to locations throughout the UK and to develop a new eco-brewery in Peterhead.

The company currently operates craft beer bars in Aberdeen and Edinburgh, with a further site set to pen in Glasgow in August. It also expects to open a flagship bar in Camden, London, in the same month.

James Watt, managing director, said: "Equity for Punks is to offer an alternate type of business model. We don't want to go to banks or venture capitalists; we want the people who enjoy our beers and like what we do as a company to have an ownership stake in our business.

"It is an innovative way for a small company to raise money when the banks aren't keen to lend."

The group plans to tempt new investors with a range of benefits, including a lifetime discount in all BrewDog Bars and at its online beer shop, as well as the first chance to buy special offers and limited edition beers.