The Wellspring Investment Fund was created to raise investment dollars to finance Wellspring cooperatives. Community investments are essential to financing cooperative development projects because they provide critical equity for these businesses that can then attract other investments and loans. Wellspring is among a growing number of cooperative developers using direct public offerings to finance cooperative businesses.
The Wellspring Investment Fund issued its first direct public offering starting in March 2016 to raise capital for the Wellspring Harvest greenhouse. This public offering achieved its goal to raise an initial $200,000 in equity for the greenhouse within four months. An additional $100,000 was raised to help complete construction of the greenhouse, which we accomplished in April 2018. Greenhouse sales began in August 2018.
In December 2018 we reissued the public offering to raise additional operating capital to support the startup phase of the greenhouse. These funds are needed to help with this last stage of development as we grow production and sales to break even over the coming months. Please review the DPO prospectus to learn more about this investment opportunity and to lend support to this community project.