Last month, Memeburn got the scoop on AngelHub’s latest investment, Real Time Wine, the no bullshit 140-character social wine review site.
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Real Time Wine recently disclosed some more information about the deal.
AngelHub’s investment in Real Time Wine is the angel investment group’s second paid out deal in six months and it concludes Real Time Wine’s first round of successful fundraising. Real Time Wine secured private angel funding from angel investors such as Michael Jordaan, owner of Bartinney Wines and Mike Ratcliffe, managing director at Warwick Wine Estate.
As AngelHub offer expertise, networks and mentorship in addition to funding, Real Time Wine founder, Andy Hadfield, turned to AngelHub to structure the deal and provide supporting infrastructure for growing the emerging market business. The deal will allow Real Time Wine to utilise legal and accountancy services from AngelHub network partners Bowman Gilfillan Attorneys and Mazars Accountants at discounted rates.
Hadfield is also thrilled to have AngelHub co-founder Keet van Zyl, an experienced tech industry venture capitalist on board. “When the time comes for us to seek a second round of funding, he’s definitely someone we want in our corner. His knowledge and expertise, combined with his access to international networks, is priceless”, says Hadfield.
South Africa, the country in which Real Time Wine is based has a nascent funding ecosystem, therefore both investor and investee require more stringent protection than in certain developed nations. Fortunately, AngelHub have developed a flexible model that can adapt to a diversity of potential investees.
Real Time Wine’s deal with AngelHub signifies that Hadfield is onto something when he says “the wine discovery and review system is broken. It’s pretty snobby and full of inner-circle jargon, which makes choosing wine a daunting business for the 75% of us who buy it in supermarkets. Real Time Wine is about making wine fun again, and helping the guys and girls without a training certificate find the good stuff.”
So how about that 2010 Kleine Zalze SMV Blend? “Queen Latifah in a glass…dark chocolate, strong & heavy with dark fruit R88 8/10”. For more bursts of bite sized wine reviewing brilliance head on over to Real Time Wine.
