Everything you need to know about our equity crowdfunding campaign
Otherwise Brewing is planning to expand our sales operation and acquire a taproom in the heart of San Francisco. To achieve this goal, we’re raising funds through an equity crowdfunding campaign, using a platform called MicroVentures.
What is equity crowdfunding?
Equity crowdfunding allows regular people to invest in private companies, usually small businesses like Otherwise. It is highly regulated by the SEC to protect consumers, and companies must meet specific requirements to be eligible—including working with a registered platform like MicroVentures.
How is this different from a Kickstarter campaign?
In Kickstarter-style crowdfunding, you are usually pre-ordering a product. In equity crowdfunding, you are making a financial investment in the company instead—ultimately signing up for an ownership stake in Otherwise, with the hope that it will increase in value over time.
Who is MicroVentures?
MicroVentures is the platform we have partnered with for this equity crowdfunding raise. We went with them because they are one of the longest running and most respected equity crowdfunding platforms out there, having raised money for well-known companies like AirBnB, Slack, and Uber. They are selective and don’t take on every company that approaches them.
Why does MicroVentures ask for my tax ID?
They are required to do this by law. MicroVentures is a registered broker-dealer and member of FINRA/SIPC, which puts them in the same regulatory category as E*Trade, Charles Schwab, and other online stock trading platforms. To protect consumers, the government enforces Know Your Client regulations on these businesses that require them to verify your identity.
Is my personal information protected?
Yes. MicroVenture’s membership in FINRA/SIPC provides you with strong legal protections against the misuse of your personal information and requires them to employ strict protocols to safeguard it.
Is my investment protected?
It is protected in the same way that a stock trade or a mutual fund purchase is protected: MicroVentures will ensure that your money is properly invested according to the terms of the offering. As with any investment, there is no guarantee of any specific performance.
Where can I find out more about the investment terms?
Visit our campaign page at: invest.microventures.com/offerings/otherwise-brewing