SWETTENHAM STUD BREEDING VENTURE NO.1
The Swettenham Stud Breeding Venture is up and running with unit holders confirmed. In a tough market still suffering some effects of the Global Financial Crisis this near full subscription is a great result. The real positive is that future ventures will be launched when things are a little easier and we can highlight the track record of SSBV no.1 to allow investors to imagine the possible returns.
Swettenham Stud is pleased to announce that its Breeding Venture #1 has met its minimum subscription level.
Swettenham proprietor Adam Sangster described the acceptance of the venture, the first of its kind that he has managed as "very satisfying".
Adam Tims, a partner at specialist horse industry financial advisors Stable Financial, and through their subsidiary Stable Connect, was responsible for guiding the offer through the strict rules as regulated by the Australian Securities and Investments Commission.
"I think this highlights the fact that a well constructed offer like the Swettenham Stud Breeding Venture #1 can succeed despite the difficult investment climate in the thoroughbred industry", he said.
The offer provides the venture with almost immediate cash flow, with the first three foals produced by the mares to be sold at the November Breeding Stock Sale in
Kentucky.
"Two of the imported mares have now arrived in Australia and are close to leaving quarantine", Sangster said.
While the venture has raised the minimum subscription of $1.5 million, a few units
are still available from the total fund limit of $2 million.
"Given the success of this venture, we're already planning the next one", Sangster said.
Swettenham and Stable Connect expect that the Swettenham Breeding Venture #2 will be open for subscriptions before the end of the year.
