Wednesday, 18 November 2015
Crowdcube's EIS investor fund bombs
A mass exodus of investors must be Crowdcube's worse nightmare.
Their latest attempt to entice people to part with their money has been a total flop. With only 11 days left, a meagre 32 of their tens of thousands of supporters have put in a tiny £140k of the required £500k.
Of course the masters of PR are unlikely to allow this to tarnish their mythical status in the world of ECf. We'd expect the 11 days left to suddenly become 111 and at least one large £100k sum to spring from a nearby bush where it had been loitering with intent. You know the story.
We think the main problem maybe the fact that Crowdcube 'experts' will be picking the fund's winners. That is likely to have investors heading rapidly for the exit.