In another sign of consolidation in the crowdfinance market in the face of underwhelming growth, the market’s two main trade associations are planning to merge later this year. The Crowdfunding Intermediary Regulatory Advocates (CFIRA) and the Crowdfunding Professional Association (CfPA) are in talks to merge into a single trade group
The fledging crowdfinance industry is awash with fear and loathing these days. Just below the surface of the hype and evangelism about crowdfunding’s promise to circumvent the old boys’ club of traditional venture capital and allow entrepreneurs to raise capital directly from so-called “Main Street” investors, lies a growing realization that they – the “picks and shovels” makers of this new Gold Rush – may be the only ones excited about the prospect.
Equity crowdfinance platform Crowdfund.co is moving away from the seed and startup capital world to focus more heavily on post-revenue and “preferably post profitable” private companies in the middle market.
Boston-based craft beermaker Hopsters has become the fourth company (and second brewer) to break the $1M level in equity crowdfunding on WeFunder, the market-leading platform for offerings under the recently-implemented Reg CF. Notably, Hopsters topped up the capital barrel with a large dollop of funds - $550,000 - from accredited investors. The hybrid retail-institutional strategy boosted the confidence of both investor types, resulting in WeFunder's fastest close of a $1M round yet. via BostInno: Hopsters Clears $1M in Equity Crowdfunding for Fort Point Brew Pub