Vinovest’s CEO Anthony Zhang has a pretty inspiring story. He recently turned 26 but has already successfully built and sold two companies, secured funding from Mark Cuban and Mark Burnett, and received a Thiel fellowship grant to build businesses.
Anthony is now the founder and CEO of his third company: Vinovest, and will be sharing details about his fine wine investing platform with us in his exclusive interview with TechBullion.
My name is Anthony Zhang, and I’m the cofounder/ CEO of Vinovest, based in Los Angeles.
I previously built and sold two companies: last-mile campus food delivery service EnvoyNow and investor rating platform KnowYourVC.
While I was still in college, I received funding for EnvoyNow from Mark Cuban and Mark Burnett. Then, when I was offered a $100,000 Thiel fellowship grant, I ultimately decided to drop out and pursue my entrepreneurial ventures full time. The rest, as they say, is history.
Vinovest is an alternative investments platform that is democratizing access to fine wine. We combine world-class wine expertise with technology to make wine investing friendly and approachable.
My interest was piqued after upon reading an article about the global wine market, and how it had more or less consistently outperformed the S&P 500 over the past 40 years. Upon looking into this asset class further, my cofounder and I realized there were significant barriers to entry that prevented everyday retail investors from accessing this opportunity to build wealth. First were the major costs involved—the overheads associated with storage and insurance, as well as excessive transaction and broker fees. Furthermore, without the requisite knowledge, it can be hard for novice investors to know quite where to begin. Add to that the industry’s opaque pricing models, and limited access to liquidity channels, and we knew there had to be a better way.
For one low fee, and with a minimum investment of just $1,000, Vinovest takes care of all the headaches traditionally associated with building a fine wine portfolio (selection, authentication, storage, insurance, shipping, liquidity etc.). Our wine council includes three Master Somms who, joined by an Advanced Sommelier and with some algorithmic assistance, help to determine the selection of wines that go into Vinovest investment portfolios. We also aim to foster a community, making the experience fun and educational via perks such as exclusive tasting events for our investors.
Recent estimates place the size of the global fine wine market just north of $5 billion. We’re seeing incredible demand for our offering—in the last 12 months alone, the number of customers using our platform has increased 1900%.
There are several wine investment platforms out there, but there a few key factors that we believe differentiate Vinovest from other fine wine investment platforms:
We help wine producers and merchants reach a much larger segment of younger customers than they might otherwise. Many of our users are individuals just embarking upon their wealth accumulation journey, and subsequently there is tremendous potential for growth. We also partner with wineries by giving them access to our pricing insights that can help them more accurately forecast demand.
For our investors, there is the opportunity to achieve diversified returns with an asset class that has long been out of reach.
Driven by the success of our wine investment platform, and as a response to strong consumer appetite, we’ll be launching our WhiskeyVest offering in H2 2021. Our aim is to also make investing in rare whiskey simple and accessible. Interested parties can visit www.whiskeyvest.co to get on the waitlist!
We’re also hiring for a variety of positions, so if you like the sound of what we’re doing at Vinovest, feel free to review our current employment opportunities (all remote) at www.vinovest.co/careers.
Wine is rather different—in fact, it’s generally more stable than most other investments during periods of global economic downturn. It enjoys a low correlation with the global stock market, meaning that its value is largely unaffected by volatility. Instead, value is driven by supply and demand. Furthermore, fine wine is inherently scarce, which allows for greater price appreciation than many other asset classes. On average, in 2020, Vinovest customers achieved returns of 17.8%.
We’d love if you visited www.vinovest.co and checked us out!
It is no secret that accidents happen. Whether it be a slip and fall accident,…
The digital transformation boom is forcing more and more companies to migrate their business processes…
Google is all-powerful for people in the industry of driving online visibility. It crawls the…
Over the past year, new institutional investors have flooded the digital asset markets. Many have…