Invivo ‘ecstatic’ at crowdfunding record

A New Zealand winery has become the country’s first business to attract the NZ$2 million (A$1.96m) maximum investment permitted via a crowdfunding campaign. Invivo Wines reached this limit less than two weeks after launching its offer on the Snowball Effect crowdfunding platform, bringing on board 439 new shareholders in exchange for 20% equity. The response raised 400% more than the Auckland-based company’s original target, which founders Tim Lightbourne and Rob Cameron were seeking in order to expand their export business.