Little Red Feather Racing Starts Second Racing Partnership Through Crowdfunding

After successfully becoming the first racing club to create a thoroughbred partnership through equity crowdfunding, Little Red Feather is launching its second racing partnership through crowdfunding, it was announced today.

New for 2018, the LRF Thoroughbred Fund II (“Fund”) will provide the opportunity for racing aficionados to pursue racehorse ownership under the same platform as 2017. LRF will manage the Fund and use the final raise to buy up to six thoroughbred racehorses, with the intent of racing at top racetracks including, Santa Anita Park and Del Mar. Each investor will own a pro-rata percentage of the Fund, allowing them to hold viable equity in the racehorses offered in the program.

“In 2017, we had 175 – mostly new owners to the sport – own equity in their first ever racehorse and we had a blast,” said Managing Partner Gary Fenton. “We owned interests in three horses who produced four wins from seventeen starts (24%) with one stakes win, three graded stakes placings and over $400,000 in purses. We couldn’t be more excited to open up this unique partnership again and we hope the industry continues to embrace and support our efforts to bring new owners into the sport.“

LRF was established in 2002. Starting with one horse, LRF has successfully syndicated over 150 partnerships, managing over 200 racehorses over the past 15 years. Bursting onto the national scene in 2004 when Singletary won the $1,500,000. Breeders’ Cup Mile, LRF horses have won 228 races from 1,294 starts (18%) and grossed over $13 million in earnings. More recently, LRF has campaigned stallion Midnight Storm, and graded stakes winner Midnight Miley.

As noted by Linda Shen in a recent Fortune.com article, “U.S law previously prohibited unaccredited investors-those earning less than $200,000 a year with a net worth below $1 million-from investing in private companies in exchange for equity. Such investors could only fund startup projects such as Kickstarter or Indiegogo in return for a discount for the product itself.”

The post Little Red Feather Racing Starts Second Racing Partnership Through Crowdfunding appeared first on Horse Racing News | Paulick Report.


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