Valtteri Bottas labels investment in Cult Wines as “natural extension” to his love of wine.
Finnish Formula One driver Valtteri Bottas is backing a £1.7million funding boost for London-based wine investment firm, Cult Wines.
The business was founded in England’s capital city in 2007 and comprises two divisions, Cult Wine Investment and CultX, a digital trading platform for buying and selling investment quality fine wines – that area of the business manages a global fine wine collection whose value is estimated at around £300million.
The fundraising round that includes Bottas was led by Christophe Navarre, the former Moët-Hennessy chairman, the company describing its plans for an “aggressive growth trajectory”.
“This investment is indicative of our unwavering commitment to redefining the fine wine market,” said Tom Gearing, CEO and co-founder at Cult Wines. “As we continue to innovate and expand our global footprint, we remain dedicated to unlocking the full potential of wine as an asset class by investing into technology, robust data and innovative solutions that address the complexities inherent in wine ownership and trading.”
According to Bottas, who has been a Cult Wine investment client prior to becoming a direct investor: “Investing in Cult Wines was a natural extension of my love of wine.” The 33-year-old currently drives for the Alfa Romeo team having previously driven for Mercedes and Williams: he has ten grand prix wins and 67 podium finishes in his ten years in F1.
