Medicine:True Craft
| True Craft | |
|---|---|
| Mission statement | Help misfit companies stick around in a world that is designed to help them assimilate like the Borg.[1] |
| Products | Craft brewery angel investor |
| Founder | Greg Koch, Steve Wagner |
| Key people | Greg Koch |
| Established | 29 April 2016 |
| Funding | Private |
| Status | Inactive |
Craft Beer is a $100M fund announced in April 2016 with the goal of assisting independent craft brewers. The fund, announced by Stone Brewing Company founders Greg Koch and Steve Wagner, intends to buy small stakes in interested craft brewers, but no more than 25%. The funding is intended to allow brewers to continue to operate independently without having to borrow from banks, sell to traditional venture capitalists, or sell to multinational conglomerates.[2]
History
The venture was first announced at the 2016 EG Conference held April 29, 2016 at Carmel, California.[3] The LA Times reported that the founders of Stone Brewing had been working on the concept for a year before making the announcement, which was made before all the details were worked out due to news that an Anheuser-Busch-owned brewery, Bend, Oregon-based 10 Barrel, was planning to open a brewpub in East Village, San Diego later in 2016.[2][4]
As of June 28, 2019, Koch confirmed "That hasn't been active for some months," Koch said. "It was an idea that never came to fruition."[5]
Trademark
It was reported that the term "True Craft Brewing" was trademarked by Stone Brewing Company Koch in October 2015.[1]
References
- ↑ 1.0 1.1 "Greg Koch's Answer to "Big Beer" is a New Platform Called "True Craft"". brewbound.com. 2016-04-29. http://www.brewbound.com/news/greg-kochs-answer-big-beer-new-platform-called-true-craft. Retrieved 2016-05-04.
- ↑ 2.0 2.1 "Venture offers craft breweries an alternative to 'selling out to Big Beer'". LATimes.com. 2016-05-04. http://www.latimes.com/business/la-fi-0504-truecraft-20160504-story.html. Retrieved 2015-05-04.
- ↑ "Stone Brewing co-founder announces craft beer angel investor". usatoday.com. 2016-05-02. https://www.usatoday.com/story/money/2016/05/02/stone-brewing-co-founder-announces-craft-beer-angel-investor/83850664/. Retrieved 2015-05-04.
- ↑ "The Issue with 10 Barrel Brewing in the East Village". thornstreetbrew.com. http://thornstreetbrew.com/the-issue-with-10-barrel-brewing-in-east-village/. Retrieved 2016-05-04.
- ↑ Rowe, Peter (June 28, 2019). "The $100 million question: what ever happened to True Craft?". Pacific (The San Diego Union-Tribune). https://www.pacificsandiego.com/eat-drink/craft-beer/story/2019-06-28/the-100-million-question-was-true-craft-too-good-to-be-true. Retrieved July 2, 2019.
External links
- The $100 million question: what ever happened to True Craft?
- Stone Brewing's "True Craft" Venture Is Officially Dead, Having Never Invested in any Breweries
 |
