Buchanan Capital has acquired a strategic minority stake in UK based Alternative Primeur Group (APG), which has developed and operates a unique wine trading platform, Winebourse, for wine stored in UK and European bonded warehouses. The trading platform is designed for private collectors and merchants to transact anonymously, efficiently, and securely in a real-time marketplace.
The unique feature of the Winebourse platform is that it is designed along exactly the same lines as a market maker driven stock exchange, whereas most other wine ‘exchanges’ are nothing more than lists of expressions of interest. Winebourse buyers and sellers are committed to their bids and offers, and all settlement, storage, and delivery logistics and handled seamlessly behind the scenes.
The business is based in the UK, with an office in Hong Kong for the purpose of tapping the rapidly growing Asian market.
Buchanan Capital CEO, James Hughes, described the Winebourse platform as, “an amazing fintech development for the wine industry, enhancing liquidity and price discovery in this notoriously thin market. The business is scalable geographically, but what’s also interesting is that it could just as easily be applied to other illiquid ‘alternative’ investments. The possibilities are endless. Matthew Starr’s prior experience in fixed income trading with J P Morgan is clearly reflected in the polished stock exchange-like operation of the Winebourse platform. It has enormous potential, and we’re pleased to be on board as early stage investors.”
Matthew Starr commented, “We’re pleased to have Buchanan Capital on board as a shareholder. We hope they’ll be able to make strategic business and financial introductions for us, especially in Hong Kong where they’re based. They could certainly assist when we’re ready to roll out trade finance to our Hong Kong client base.”