A Scottish craft brewery has launched a crowdfunding campaign to help it raise £25,000 to open a new bar in Edinburgh.
Vault City Brewing aims to raise £25,000 to help fund ‘The Porty Vault’ on Portobello High Street – close to the producer’s brewery.
Investors will be able to cash-in on exclusive deals and experiences when the new bar is opened with supporters able to get involved from as little as £50.
Campaign backers will receive 1.5x their pledge in bar vouchers, so those who invest £200, for example, will receive £300 worth of bar vouchers in return.
Funders will also receive a limited-edition t-shirt, and an exclusive invitation to the launch event with a free tasting menu included.
The Porty Vaults can seat up to 42 people with plans to move into the existing site of the Skylark bar on Portobello High Street.
The venue will also offer food to its customers run by chef Darren Lim, a steakhouse specialist with more than 25 years’ experience working around the world including a decade spent alongside New Zealand celebrity chef Simon Gault.
Lim has developed a BBQ-inspired food menu that draws on his experience using solid fuel with influences from Argentina, Patagonia, and USA.
The Porty Vault will be Vault City ’s second bar in Scotland’s capital following the successful opening of The Wee Vault in the city’s Haymarket last November.
Steven Smith-Hay, Vault City Brewing’s co-founder, said: “This is one of our most exciting announcements yet and a big leap forward for Vault City.
“Our brewery is already in Portobello, we’re part of the community there and we always will be. We considered opening a brewery tap-room, but we felt that we could do more to support the local High Street by transforming an existing site. Opening a new bar right here on home turf is a dream.
“We have already enjoyed great success with the Wee Vault and adding a new bar to the portfolio is a natural step. As with any part of the business, we will grow with demand, and there’s every possibility we could open bars in other locations around the country.”
The launch of the crowdfunding campaign follows the release of two new product lines with supermarket Tesco announced in April.
Vault City is now available in more than 600 Tesco stores. It was founded in January 2018 and has seen revenues grow from £94,000 in December 2019 to more than £1.8m in December last year – with gross profits in excess of £804,000.
Since it shifted to a four-day working week, revenues for 2022 are up 168% year-on-year, with net profits up 38%.
Don't miss the latest headlines with our twice-daily newsletter - sign up here for free .
