Crowdfunding law change opening doors to Sydney restaurants

Step aside charcuterie, celeriac and cepes. The go-to culinary term for the Australian food scene in 2019 is crowdfunding.

After years of big restaurant groups toying with public floats, it's the relative minnows of the industry paving the way through crowd funding.

When Melbourne import Sash opens in Sydney's Surry Hills this month, recently introduced equity crowdfunding legislation will see 170 investors along for the restaurant ride.

Now Speakeasy Group, which has a number of hospitality venues across Sydney and Melbourne including Eau de Vie and Mjolner, is looking to offload 10-15 per cent of its business through equity crowdfunding.

Speakeasy co-owner Sven Almenning says the funds will be used to fuel growth and open new venues. "We are looking to raise a minimum of $750,000 and a max of $3 million."

Investors will receive shares and will become co-owners in the business and receive annual dividend payments.

"There is also the potential of a future trade sale or IPO," says Almenning.

It's unlikely to be the last of its kind. Expect this trend to take off industry-wide, pop-up style.