Scotch whisky becomes liquid asset
AN ONLINE platform has launched allowing private investors to trade for the first time in maturing Scotch whisky, and giving distillers an injection of working capital to grow their business.
Whiskyinvest direct has been set up by the team behind goldtrading business Bullionvault, led by Paul Tustain, and ex- Diageo director Rupert Patrick. It marks the first time investors have had the chance to invest in whisky in this way, still in the barrel, rather than in single bottles of the spirit.
Investors are expected to benefit through the diversification and potential returns they can receive via a liquid investment route, able to buy and sell whenever they choose.
The platform is looking to change how some of the 3,000 million litres of maturing Scotch whisky are owned, stored and financed. In January its majority owner Galmarley Limited approved a £2 million cash injection, and a further £1.5m came from 60 angel investors.
Whiskyinvest direct also said it will provide timely extra funding to the Scotch industry, allowing the latter to grow more efficiently.