Page 25 - Chase Case Study

By 2017 Chase Distillery had reached a crossroads where

the gin market had started to hit a tipping point and there
was significant opportunity for expansion. The UK is the

largest gin market in Europe and between 2014 and 2019,

grew at a compound annual growth rate of 17.4%, according

to IWSR data. This was a trend that was mirrored across the
UK gin market as a whole, which was worth an estimated

£1.6 billion in 2019.

At this point Chase Distillery required additional funding to

support expansion. William Chase however, was very aware
of the pitfalls of involving venture capitalists in his business.

As a consequence, he approached BGF who came on board

in September 2017 when they took a minority interest in the
company.

“In most cases, a business accepting minority funding

(also known as a “minority raise”) will receive primary

capital – money which goes straight to the company’s
balance sheet and which helps finance its various growth

strategies.” (BGF)

Unlike other investors, BGF is and will always be a minority,

non-controlling investor. Our equity share is between 10-

40%: it’s part of our commitment to backing entrepreneurial
innovation in all its forms.