Funding Private | ||
Mission statement Help misfit companies stick around in a world that is designed to help them assimilate like the Borg. Products Craft brewery angel investor Founder Greg Koch, Steve Wagner Established 29 April 2016 (2016-04-29) | ||
Craft Beer is a $100M fund announced in April 2016 with the goal of assisting independent craft brewers. The fund, announced by Stone Brewing Company founders Greg Koch and Steve Wagner, intends to buy small stakes in interested craft brewers, but no more than 25%. The funding is intended to allow brewers to continue to operate independently without having to borrow from banks, sell to traditional venture capitalists, or sell to multinational conglomerates.
Contents
History
The venture was first announced at the 2016 EG Conference held April 29, 2016 at Carmel, California. The LA Times reported that the founders of Stone Brewing had been working on the concept for a year before making the announcement, which was made before all the details were worked out due to news that an Anheuser-Busch-owned brewery, Bend, Oregon-based 10 Barrel, was planning to open a brewpub in East Village, San Diego later in 2016.
Trademark
It was reported that the term "True Craft Brewing" was trademarked by Stone Brewing Company Koch in October 2015.