WineFortune launched a fund that invests in fine wines
The first fund that invests only in fine wines started operating in Estonia. It is a unique investment instrument in the world of alternative asset class, i.e. fine wines.
Both private and legal persons can invest in the fund by registering as a user of the WineFortune platform. The initial value of a unit is 1 euro, and the offer of units lasts from October 3 to October 24. It is a trust fund, the maximum capital of which can be raised this year is 2.5 million euros.
Fine wines are traded on the international platform Liv-ex (London Wine Exchange). The NAV value of the fund is updated weekly according to the average price of the world market from the Liv-ex platform. All fine wines are stored in the Octavian fine wine warehouse in London, which is also the largest fine wine storage company in Europe, which currently takes care of more than 3 million bottles of wine. The wines guaranteed by the fund are insured by Octavian at the market price value of Liv-ex.
CEO and co-founder of WineFortune, Risto Kaljurand: "I am happy that Raimonds Tomsons from Latvia, who a few years ago also won the title of the best sommelier in Europe, and Samuil Angelov from Finland, who owns a Michelin guide restaurant in Helsinki and is an international sommelier and a member of the board of the association, have joined the fund's team of experts. Of course, the team also includes the most well-known name in Estonia, the owner of Rein Kasela Veinituba, Rein Kasela himself. In addition to technical analysis of wine regions, vintages, wine critics and market demand, they are the experts to share fundamental expertise on market trends and discover new players on the market."
The fund promises to start paying dividends from the 3rd year, and the condition of the success fee is at least 10% growth per year.
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