Vinfolio raises $4.5M to fund expansion

01 September 2009 - San Francisco Business Times

Vinfolio Inc., a San Francisco-based company that helps fine wine collectors and afficionados do their thing, said Tuesday it has raised $4.5 million in a Series A funding round by Panorama Capital. Previously, it was funded by private investors.

Vinfolio, which says it launched a 250,000-wine bidding site in July called the Vinfolio Marketplace, offers various services and resources to help wine enthusiasts and collectors buy, sell, and manage their collections, according to the company.

Stephen Bachmann, founder and CEO of the six-year-old company, said the new funding will help "accelerate the growth" of the Vinfolio Marketplace and the company's expansion in Hong Kong, where Vinfolio added an outpost last year to serve the growing Asian market.

Shahan Soghikian, a managing director at Panoroma, will join Vinfolio's board alongside Vinfolio Chairman Jean-Michel Valette, a former chairman at Robert Mondavi Winery; Colin Lind, managing partner at Blum Capital Partners; and William Timken, a founding partner of Hambrecht & Quist.