Equity crowdfunding platform StartEngine has acquired Vinovest as part of its push to expand into alternative asset investing. The move aims to broaden the company’s offerings beyond startup equity by integrating fine wine and collectibles into its platform.
Financial terms of the deal were not disclosed, but it expanded access to alternative assets for a growing network of more than 2.1 million, with $1.5 million in total to date. Following the acquisition, Vinovest will continue to operate as a wholly owned subsidiary under its existing brand.
“Vinovest opens the door to a new category of alternative assets for our investors, while staying true to our mission of expanding access to private markets,” said Howard Marks, co-founder and chief executive of StartEngine, in a statement. “What stood out to me is how similar our communities are with investors looking for uncorrelated investments for their portfolios.”
Founded in 2019, Vinovest is a leading platform for fine wine and whisky investing, with over $150 million invested. The company combines expert curation, bonded warehouse storage and a proprietary trading platform to make world-class alternative assets accessible to every investor.
Vinovest has also developed relationships in the wine industry, allowing top wineries from around the world to reach the next generation of collectors and investors in the company’s network.
StartEngine, which was launched in 2014, is a leading private investing platform that has connected users with a wide array of private market opportunities, including startups and pre-IPO opportunities. In November 2023, the company launched StartEngine Private, providing accredited investors with exposure to prominent private companies, like Anthropic, Stripe, xAI and others.
Information from this article was sourced from StartEngine.
