The First Crowdfunded Horse Is Off to the Races
And they’re off!
On Sunday, the first ever equity crowdfunded horse — yes, you read that right — made his big debut at the race tracks. Cistron, the pride and joy of Little Red Feather Racing Club and its new 180+ investors, competed at Santa Anita Park in Arcadia, CA.
And he didn’t just compete in his first race. He won it.
Cistron, the first LRF horse owned by the crowd, wins at the Santa Anita Park on Sunday.
Last year, for the first time in racing’s history, non-accredited investors were given access to horse ownership via LRF’s campaign on StartEngine. Previously, the group had only turned to its small net of accredited investors for new partnerships. “On StartEngine,” says LRF Managing Partner Gary Fenton, “we were able to open that net to just about anybody.”
Since funding, LRF has upheld its plan to search for two new thoroughbreds. Although they successfully found Cistron, the novelty of equity crowdfunded racing business — again, read correctly — makes the horse search a bit of a challenge. “We’re trying something new,” says Fenton, “so we’re asking the owners and the horseracing world to be a bit philanthropic.”
LRF has always sought to engage its horse owners more than other clubs do. Owners are invited to morning workouts, and they’re provided daily updates about their horses’ standings. With two new horses in their stables, LRF hopes more and more people will be able to enjoy the unique thrill of the sport.
And many already are.
Owners, found through crowdfunding, pose with Cistron in the winner’s circle.
Cistron’s new owners and fans took to Facebook to congratulate him on his big win. One fan writes, “Thanks to you guys for giving us the opportunity to join in!!” — a nice nod to LRF’s journey from StartEngine to starting line.