Eden Project beats £1 million funding target on Crowdcube in less than five hours
Successful mini-bond offers investors six per cent per year for four years and then money back.
The Eden Project has surpassed its initial funding target of £1 million from 175 investors within just five hours and continues to accept investment up to its £1.5 million limit.
The internationally-acclaimed visitor destination and world’s largest ‘rainforest in captivity’, plans to create a new learning village for teaching quality horticulture, cookery and food production at its home in Cornwall.
Eden has teamed up with the UK’s largest investment crowdfunding platform Crowdcube to secure the investment need to grow one of the UK’s best education centres.
The issuing of the Eden Project Bond via Crowdcube will enable Eden to access finance from its own supporters as well as a crowd of registered investors and the general public through Crowdcube.
Since fully opening in 2001, Eden has attracted more than 16 million visitors and generated £1.4 billion for the regional economy. For the last three years running it has won Best UK Leisure Attraction at the British Travel Awards – the ‘Travel Oscars’ voted for by the public.
Eden Executive Director David Harland said: “This is an amazing result. To reach our £1 million target so soon is spectacular and shows that very many people share our vision to establish a world-class learning centre here at Eden.
“We thank everyone for that faith in the future of the young people who will come here to learn new skills and Eden’s capacity to deliver something special right here in the heart of Cornwall. We also take our hats off to Crowdcube for the brilliant way they have enabled us to reach our goal in this - our first foray into crowdfunding.”
Luke Lang, co-founder of Crowdcube said: “It’s brilliant that the Eden Project has become the latest high-profile organisation to use Crowdcube to raise finance. Mini-bonds have emerged as a cost-effective and efficient way for well-established brands to raise growth capital and engage with their customers. By giving people the opportunity to invest in an organisation they love in return for a financial reward, mini-bonds encourage loyalty while also attracting new customers.
“Eden is synonymous with innovation and community, which makes it a great fit for crowdfunding.”
Investors can put in a minimum of £500 and in return get six per cent per annum over the four-year term of the bond. Investments are in multiples of £500 and there is no upper limit. Investing in mini-bonds involves risk. Mini-bonds are unsecured, non-convertible and non-transferable, and it should be done only as part of a diversified portfolio.