What is the best route for first-time fundraising in the drinks industry: crowdfunding platforms, angel investors, or other structured equity?

For a first fundraise (typically £300k), **angel investors from your network are the strongest option**, particularly if you can offer EIS/SEIS tax relief, which is attractive to high-net-worth individuals given the sector's risk profile.

**Key tactics members recommend:**

- **Start with low-hanging fruit** — identify super-fans of your product, stockists where your products perform well, and their owners/directors (Companies House is a goldmine for finding directors and shareholders). These warm relationships convert far better than cold outreach. - **Leverage your network for warm introductions** — ask people in your existing network if they can introduce you to potential investors with mutual connections. Never discount anyone; some biggest investors have been unexpected. - **Build momentum with early commitments** — getting your first few backers is psychologically and practically crucial; each commitment builds confidence for the next. - **Crowdfunding platforms (Crowdcube, Seedrs) are premature at this stage** — they work better in later rounds (2nd, 3rd, 4th) when you have significant traction and retailer distribution. Crowdfunding typically tops up a round rather than filling it; members report 80%+ is usually pledged off-platform already. - **Apply the relationship filter** — only take investment from people you'd have a drink with and could maintain a relationship with if things don't work out. Avoid problematic friends or family dynamics.

**Expect rejection:** You'll get many no-replies and outright nos, but persistence pays. Ask for introductions even when someone can't invest themselves—they may have valuable connections in their network.