Domaine Chanzy set to silence crowdfunding critics

Author: Gemma Varriale | Published: 11 Feb 2015

Winemaker Domaine Chanzy has become the first company to conduct an initial public offering (IPO) using crowdfunding.

It will also be the only French company listed on the Alternative Investment Market (AIM) and the only French wine specialist listed in London.

The transaction has been hailed as a step forward for equity crowdfunding in Europe, and a boost for the market following the UK Financial Conduct Authority’s (FCA) publication of a scathing review of the crowdfunding market.

"Domaine Chanzy is the first time that an operating company, as opposed to a fund like a Reit [real estate investment trust], has done a crowdfunded IPO," said Jeff Lynn, chief executive officer and co-founder of Seedrs, which is hosting the campaign. "Funding later-stage companies is a very exciting expansion of our model and of the power of equity crowdfunding."

"Over the last six months we have seen a progression of equity...