Liftoff, a new crowd-funding platform, has failed to fly with its first offer, raising just $2500 of the $1.2 million sought.
The campaign for Rainforest Experiences, which provides eco-tourism tours in the North Island's Whirinaki Forest, fell well short this week of the minimum target of $600,000, attracting only three investors after 35 days.
The licensed platform, the sixth in New Zealand, aims to help grow Kiwi companies and provide support and services to Maori to help their businesses. It was started by NZ Shareholders' Association founder Bruce Sheppard, Andrew French, a former Trade Commissioner who is now a director of the Crown Forestry Rental Trust, and former Inland Revenue staffer Adam Hunt.
Hunt said it was a disappointing start. "We fully acknowledge we got it wrong and the process taught us a lot," he said. "We hope the current membership deal for Famous Vodka will go better ..."
What it will do differently next time is to open an offer with a high net worth cornerstone investor already in place, Hunt said.
