Snowball Effect (equity crowdfunding)

Snowball Effect

Trading name	Snowball Effect
Type	Private
Industry	Equity crowdfunding
Founded	Auckland, New Zealand 2012[1]
Founders	Richard Allen Simeon Burnett Francis Reid
Website	www.snowballeffect.co.nz

Snowball Effect is a New Zealand-based equity crowdfunding platform, that enables New Zealand companies to offer shares to members of the public.^[2] The company was founded in 2012 and launched in August 2014, after being one of the first to acquire licensing from the Financial Markets Authority.^[1][3] As of June 2015 over NZ$8.2 million has been raised on the platform.

Board of Directors

• Stephen Franks
• Francis Reid
• Alistair Lawrence

Highlights

• Snowball Effect was one of the first two companies to acquire licensing from the Financial Markets Authority.
• Launched New Zealand's first equity crowdfunding offer, Renaissance Brewing, on 11 August 2014.
• Aeronavics raised $1.5 million, the second highest amount raised through equity crowdfunding in New Zealand
• Invivo Wines raised $2 million, the highest amount raised through equity crowdfunding in New Zealand.

Successful Offers

The following is a list of successful offers that have been made through Snowball Effect:

• Renaissance - $700,000^[4]
• The Patriarch - $488,800 ^[5]
• CarbonScape - $764,302 ^[6]
• Aeronavics $1,500,000^[7]
• Invivo Wines - $2,000,000 ^[8]
• Breathe Easy - $613,428
• Red Witch - $407,772
• Punakaiki Fund - (in progress)

References

1. Sykes, Caitlin (22 July 2014). "Crowdfunding - Josh Daniell, Snowball Effect". nzherald.co.nz. APN New Zealand Limited. Retrieved 9 February 2015.
2. Fletcher, Hamish (21 October 2013). "Law change to kick start capital raising". nzherald.co.nz. APN New Zealand Limited. Retrieved 10 February 2015.
3. Parks, Andrew (31 July 2014). "FMA issues first equity crowd funding licences". fma.govt.nz. Financial Markets Authority. Retrieved 10 February 2015.
4. Smellie, Patrick; Keall, Chris (25 August 2014). "Crowd-funding craft brewer gets to $700k target early". nbr.co.nz. National Business Review. Retrieved 9 February 2015.
5. Grant, Nick (16 October 2014). "UPDATED: Film equity offer closes within cooee of crowdfunding cap". nbr.co.nz. National Business Review. Retrieved 9 February 2015.
6. Metherell, Suze (17 November 2014). "CarbonScape locks down minimum $400,000 in crowdfunding". nbr.co.nz. National Business Review. Retrieved 9 February 2015.
7. Small, Jamie (18 February 2015). "Drone company Aeronavics raises $1.5m equity in a week". stuff.co.nz. Stuff.co.nz. Retrieved 24 February 2015.
8. Smylie, Calida (30 March 2015). "Invivo Wines beats equity crowdfunding records". nbr.co.nz. National Business Review. Retrieved 31 March 2015.