DMD Ventures turns to crowdfunding to grow brands including 31Dover
DMD Ventures, the parent company of 31Dover, The Gin Club, Off The Still and wholesalers Vanquish and OnStock, is crowdfunding for the next phase of growth.
The company has turned to Crowdcube to invite its loyal customers to take a stake in the business, with investors offered a number of rewards including a VIP spirits and cocktail masterclass, a bespoke trip to Champagne and their own cask of whisky.
The DMD Ventures group is currently valued at an estimated £40 to £45 million, and is has 150,000 customers.
Its first business, 31Dover, was established five years ago and is now one of the UK’s leading online drinks retailers.
DMD is hoping to raise £500,000 and the campaign is due to go live this month. Current investors in 31Dover include Janus Capital, Antoine Nussembaum (partner and co-founder of Felix Capital), Bertrand Perrodo, Ramzi Gedeon (or AEA Private Equity), among others.
The company said: “We have witnessed an incredible period of growth both in customer base and team size here at 31Dover. We are launching new products and building our drinks ecosystem, taking our team to more than 35 people here in London.
"You, our community, have been the beating heart and existence of 31Dover and for that, we are eternally grateful. We felt adamant in saving an allocation of our funding round to give you the chance to come onboard with us and share in our success.”