finalises £1.5m seed round to provide investors with exposure to fine wines
Summary
WineFis raise also incorporated a crowdfund and saw a number of high profile angels join the companys cap table, as well as existing VC investors SFC Capital and Founders Capital quietly increase their shareholding.Founded by Oliver Thorpe and Callum Woodcock, who started his career at investment managers Fidelity International and J.P. Morgan Asset Management, WineFis raise comes at a time when the global economy is in flux and investors are fleeing equity markets in search of exposure to diversification away from mainstream assets.A pattern which has seen high net worth investors and family offices look to diversify their portfolios and gain exposure to selections of fine wines. This follows another trend, which in recent years has seen the same investors buy exposure to other collectibles like whisky, fine art and classic cars.WineFis raise is a major landmark for a fragmented industry that has until now been dominated by standalone investment advisory firms operating without comprehensive data models or ecosystem to assess and manage broad portfolios in one place. WineFis approach combines detailed quantitative analysis and deep domain expertise by hands-on industry experts to guide high net worth investors and family offices in the best approaches to building fine wine portfolios.For high-net-worths and those looking to educate themselves, WineFi also allows individuals to co-invest in diversified, expertly curated wine portfolios using their syndicate structure, with minimum investments of as little as \xa33,000.For experienced investors and wine enthusiasts alike, WineFi is rapidly enabling investment education in an asset class that until now has lacked the professionalism and data-driven analysis that investors expect of a traditional asset manager.The fine wine investment space has historically been split between wine merchants that are set up to facilitate drinking and collecting rather than investing, and bespoke investment businesses that often operate like merchants with added management fees, said Callum Woodcock, Founder and CEO of WineFi, formerly of J.P. Morgan.In the current economic climate where interest in collectibles is rising, fine wine is fast emerging as a compelling alternative asset, and which notably is exempt from capital gains tax in many cases, adding to its appeal for diversification-focused investors.Most of our clients are either high net worth individuals or high earners looking to allocate 2-10% of their portfolio to racier alternatives, whether its collectibles like fine wine or illiquid alts like early stage startups Woodcock explained. The company offers both syndicated investments for individual investors and bespoke portfolio services for family offices and ultra-high-net-worth individuals who prefer direct ownership of their wine assets.Speaking on behalf of Coterie Holdings, CEO Michael Saunders, who has been a member of the board since February 2024 and brings 40 years of industry experience to WineFi, said:WineFi confirmed the new funds will be used to fuel growth and further expand its rapidly growing team as it sets its sights on becoming the go-to solution for investors seeking to access fine wine as an asset class. As the first mover in this space, WineFi is well-positioned to capitalise on growing demand for returns less correlated to equity, bond and commodities markets.