Investing in racehorses – typically the preserve of the über rich – will now be made available to the masses through the medium of crowdfunding.
Crowd Racing, which incidentally arises amongst an absolute slew of recent specialist platforms, will allow trainers and syndicates to pitch for investment online. The style will be that of an equity crowdfunding platform. Trainers will advertise ownership of a set percentage of a thoroughbred in exchange for cash. Crowdcube have provided the platform technology.
Craig McKenna, Founder of the new platform, said:
"Owning racehorses will no longer be reserved for the rich and famous - now anyone can genuinely own a share of a thoroughbred for as little as a £75 one-off payment.
"It's an affordable way to get involved, and of course if you have more to invest, the range of owner benefits goes up, but all owners get their share of any prize money, or the proceeds of any sale of their horse."
Is this not crowdfunding at its finest? Allowing ordinary people access to an asset class that has previously been barred shut to them? With investments starting at as little as £75, Crowd Racing will truly open up racehorse ownership to a new bastion of support.
Horse First Racing and Biddestone Stud have listed the site’s first campaign – a two-year-old colt that will begin racing in 2014. It has raised £31,930 of its £75,000 target already, with 36 days left to garner further investment.
You can view the site here:
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