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GET A PIECE OF BELLE ISLE
Distilled for good times
Belle Isle is a craft spirit company in Richmond Virginia, creating premium products in the moonshine category. The company has passed the 15,000 9L case mark in 2022 and its Virginia case sales have increased by 70% since the start of Covid in 2020, putting the company firmly within the top 10% of all craft spirits brands in the US by volume. Belle Isle recently sold its 1,000,000th bottle and canned cocktail!
$575,352.26 Raised
REASONS TO INVEST
While most other markets such as cars, watches, shoes, sodas, and even other alcoholic beverages have a premium option, the moonshine category is lacking in that department. Belle Isle saw this as an opportunity, and created premium moonshine in flavor combinations that people love.
Premium Spirits make up 68.5% of all liquor sales. We believe Belle Isle has a first mover advantage and is well-positioned to enter into this market and fill the void in the premium moonshine market.
Belle Isle sold over 15,000 9L cases in 2022, an increase of 70% since the start of Covid in 2020. Based on our research, these volumes put Belle Isle among the top craft spirits brands in the US by volume, as less than 10% of brands sell more than 5,000 9L cases.
Belle Isle is offering Convertible Notes that do not have an associated Valuation Cap. In lieu of the Valuation Cap, Belle Isle's Convertible Notes will convert under the following terms. Please see the Offering Memorandum for a complete list of the terms of the Convertible Note.
Automatic Conversion Upon Qualified Financing. In the event that a Qualified Financing occurs prior to the Maturity Date or a Sale of the Company, then the outstanding principal balance of this Note, together with all accrued and unpaid interest thereon, shall automatically convert in whole without any further action by the Holder into such Equity Securities at a conversion price equal to the lesser of (i) 80% of the per share price paid by the purchasers of such Equity Securities in the Qualified Financing and (ii) (A) $21.10 per share if a Qualified Financing occurs on or before December 31, 2023, (B) $18.09 per share if a Qualified Financing occurs after December 31, 2023 and on or before December 31, 2024, or (C) $15.07 per share if a Qualified Financing occurs after December 31, 2024 and on or before December 31, 2027 (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the capital stock of the Company), and otherwise on the same terms and conditions as given to the purchasers of the Equity Securities in such Qualified Financing.
Automatic Conversion Upon Maturity Date. In the event that a Qualified Financing or a Sale of the Company is not consummated prior to the Maturity Date, then effective upon the Maturity Date, the outstanding principal balance and any unpaid accrued interest under this Note and each of the other Notes shall be automatically converted into Series B Preferred Stock of the Company at a conversion price equal to $15.07 per share (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the capital stock of the Company).
Repayment Premium Upon Sale of the Company. Notwithstanding any provision of this Note to the contrary, in the event that the Company consummates a Sale of the Company (as defined below) prior to the conversion or repayment in full of this Note, (i) the Company will give the Holder at least fifteen (15) days prior written notice of the anticipated closing date of such Sale of the Company, and (ii) at the closing of such Sale of the Company, in lieu of the principal and interest that would otherwise be payable under this Note, the Company will pay to the Holder, in full satisfaction of the Company’s obligations under this Note, an aggregate amount equal to the greater of (x) 5 times the aggregate amount of principal and unpaid interest then outstanding under this Note and (y) the amount the Holder of this Note would have received in the Sale of the Company if the Holder had converted the amount of principal and unpaid interest outstanding under this Note into Series B Preferred Stock at a conversion price equal to (A) $21.10 per share if a Sale of the Company occurs on or before December 31, 2023, (B) $18.09 per share if a Sale of the Company occurs after December 31, 2023 and on or before December 31, 2024, or (C) $15.07 per share if a Sale of the Company occurs after December 31, 2024 and on or before December 31, 2027 (subject to appropriate adjustment in the event of any stock dividend, stock split, combination or other similar recapitalization with respect to the capital stock of the Company).
the pitch
Making Moonshine Premium
When people think of moonshine, luxury isn’t their first thought. But that’s how it used to be for tequila and vodka before a premium option came to play. Belle Isle is that premium option for moonshine.
Belle Isle sets itself apart from other moonshine brands and clear spirit competitors, such as vodka, with its products’ smooth, clear, and unmistakable taste. The company takes pride in sourcing 100% organic corn and utilizing only natural ingredients, ensuring an authentic and superior drinking experience.
Belle Isle has passed the 15,000 9L case mark in 2022 and its Virginia case sales have increased by 70% since the start of Covid in 2020. Per the American Craft Spirits Association, as part of its Data Project during the Annual Craft Spirits Economic Briefing in December 2022, 89.2% of U.S. craft spirits producers are classified as "small producers." Small producers, on average, produced 663 cases per year. Belle Isle has surpassed 5,000 cases per year and can firmly state that it is in the top 10% of craft spirit producers in the U.S. (Source) The company has also successfully raised significant capital through multiple rounds, securing support from high-net-worth angel investors. And with a vision to dominate the moonshine segment, the company’s ultimate goal is to become the “Patrón of moonshine.”
*The above graphic depicts media outlets where Belle Isle was featured. Belle Isle does not have a business relationship with the above media outlets.The Problem & Our solution
Premium Moonshine For Every Palate
While half of all spirit categories consist of premium brands like Grey Goose and Patrón, moonshine has yet to establish itself as a premium option. Many consumers still associate moonshine with a harsh, low-quality spirit brewed in the backwoods and served in rustic mason jars. This perception limits the potential of moonshine to become a popular and respected spirits category in homes and bars nationwide.
Belle Isle believes it is transforming the moonshine landscape by pioneering the first premium moonshine on the market. The company is confident that its moonshine will captivate the interest of potential customers and is committed to enhancing and broadening the drinking experience for the general public. To achieve this, the company crafts its moonshine using only the finest ingredients and opted for elevated, bartender-friendly bottles that exude sophistication and class.
Additionally, consumers in the spirits industry also love flavor combos but don’t want to infuse the drinks themselves. To solve this, the company created a diverse range of flavors and infusions to cater to evolving tastes and trends. From classic favorites like Cold Brew Coffee to unique combinations such as Honey Habanero and Lemon Lavender, Belle Isle’s product line reflects our dedication to providing exceptional options for all palates.
the market & Our Traction
Raise A Glass To This Rising Market
With a growing demand for premium spirits, and research indicating that nearly four out of every ten consumers prefer premium-priced or branded spirits, Belle Isle Moonshine is positioned well in a growing market.
(Source)
Belle Isle demonstrated great traction as the company surpassed 15,000 9L cases in 2022 and achieved a remarkable 70% growth in Virginia case sales since the start of the COVID-19 pandemic. The company also has a diversified revenue model that allows them to reach many channels. This includes selling products to Virginia ABC, (which distributes the products to over 400 locations), 20,000 direct-to-consumer sales in over 35 states nationwide (30% returning customer rate), established distributor relationships, and a tasting room. 
*These testimonials may not be representative of the experience of other customers and is not a guarantee of future performance or success.
Why Invest
Making Room On The Shelves For Moonshine
Belle Isle is planning to take over the moonshine category, and with your investment, the company can expand its channels, enhance its distributor footprint, strengthen its tasting room experience, drive product innovation, and expand its portfolio into the bourbon space.
Belle Isle has shown traction, passing the 15,000 9l case mark in 2022 and growing Virginia case sales by 70% since the start of Covid in 2020 (Less than 10% of craft spirits brands sell more than 5,000 9l cases). Belle Isle aims to
hit $10 million in sales by 2026, at which point they'd seek acquisition by a large strategy based on a multiple of their revenue. Recent acquisitions in the spirits space have been based on a multiple of revenue, with ranges from 5.7x to 21.8x revenue. Therefore, Belle Isle's growth potential and the strategic shift towards acquiring successful brands with traction make it an attractive investment opportunity for large strategics in the alcoholic beverage industry.
The spirits market is evolving rapidly, and Belle Isle is at the forefront of this exciting industry. You now have the opportunity to invest in a top 10% craft distillery in the United States. Join Belle Isle, and help us take moonshine to new heights!
ABOUT
HEADQUARTERS
615 Maury St
Richmond, VA 23224
WEBSITE
View Site
Belle Isle is a craft spirit company in Richmond Virginia, creating premium products in the moonshine category. The company has passed the 15,000 9L case mark in 2022 and its Virginia case sales have increased by 70% since the start of Covid in 2020, putting the company firmly within the top 10% of all craft spirits brands in the US by volume. Belle Isle recently sold its 1,000,000th bottle and canned cocktail!
TEAM
Vincent Riggi
Co-Founder and Chief Executive Officer
His early fondness for spirits, sparked by memorable scotch-tasting sessions with his father, fueled his journey into the industry with his brother-in-law, Brian Marks. With no prior experience, he identifies as a "knucklehead entrepreneur," who appreciates those with the willingness to learn. It’s that willingness that brought him and Brian around the country, learning the craft alongside some of the nation’s finest spirit makers.
Believing firmly in the adage, "It's better to be loved by a few than liked by many," he and the team at Belle Isle strive to create exceptional spirits that resonate deeply with its customers.
Brian Marks
Co-Founder and Chairman of the board (Part Time)
Brian believes that empowering people and connecting communities is the key to building companies and products. His employees and his customers are his driving priority, second only to his wife and two daughters.
Brian works 20 hours per week for Belle Isle.
Brandon Day
Director of Marketing
Michael Provance
Director (Part Time)
Mike's background in early-stage investments in computing, medical, and environmental technologies has contributed to multiple successful exits for investors, generating over $200 million in value by building high-performance, growth-stage ventures.
Mike holds a Ph.D. in Strategy and Innovation from George Washington University, an MBA from Penn State, and a BS from MIT. Based in Chapel Hill, NC with his wife, Anne, Mike continues to make a lasting impact on the world of technology and entrepreneurship.
Mike works less than 5 hours per week for Belle Isle.
Brian Quigley
Director (Part Time)
Brian works less than 5 hours per week for Belle Isle.
Michael Malloy
Director (Part Time)
Mike works less than 5 hours per week for Belle Isle.
Joseph Dale Cheely
Chief Financial Officer (Part Time)
Joseph works 10 hours per week for Belle Isle.
TERMS
Belle Isle
Overview
INTEREST RATE
8.0%
MATURITY DATE
Dec 31, 2027
FUNDING GOAL
$15k - $1.24M
Breakdown
MIN INVESTMENT
$250
DISCOUNT RATE
20.0%
CONVERSION TRIGGER
$2,000,000
OFFERING TYPE
Convertible Notes
TYPE OF EQUITY
Series B Preferred Stock
What is a Convertible Note?
A convertible note offers you the right to receive Series B Preferred Stock in Belle Isle. The amount of Series B Preferred Stock you will receive in the future will be determined at the next equity round in which the Company raises at least $2,000,000.00 in a qualified equity financing. The highest conversion price per security is set based on a Valuation Cap or if less, then you will receive a 20.00% discount on the price the new investors are paying. You also receive 8.00% interest per year added to your investment. When the maturity date is reached, if the note has not converted then you are entitled to receive Series B Preferred Stock equal to your investment and interest back at a price per security determined by dividing the Valuation Cap by the aggregate number of outstanding equity securities of the Company as of immediately prior (on a fully diluted basis).
*Annual Interest Rate subject to adjustment of 5% - 30%. See bonus interest perks below
Investment Incentives & Bonuses*
Time-Based Perks
First Two Weeks | $1,000+
Invest $1,000+ within the first two weeks and receive 5% increase in the annual interest rate
First Two Weeks | $5,000+
Invest $5,000+ within the first two weeks and receive 7% increase in the annual interest rate
First Two Weeks | $10,000+
Invest $10,000+ within the first two weeks and receive 10% increase in the annual interest rate
Volume-Based Perks
Tier 1 | $500+
Invest $500+ and receive early access to a super secret product release, along with 1 exclusive Belle Isle Moonshine shirt and a set of 2 custom Belle Isle Moonshine cocktail glasses.
Tier 2 | $1,000+
Invest $1,000+ and receive perks from previous tiers, along with early access to our first ever Bourbon release in Q4 2023, 1 exclusive Belle Isle Moonshine hoodie, and access to 15% off Belle Isle merch.
Tier 3 | $5,000+
Invest $5,000+ and receive perks from previous tiers, along with a lifetime of free neat tastings at our tasting room and access to 25% off Belle Isle merch.
Tier 4 | $10,000+
Invest $10,000+ and receive perks from previous tiers, along with an invitation to a private community where you will help us decide on future products and an artist-signed bottle of our next specialty release.
Tier 5 | $25,000+
Invest $25,000+ and receive perks from previous tiers, along with an invitation to a private opening of our new distillery tasting room and bar.
Tier 6 | $50,000+
Invest $50,000+ and receive perks from previous tiers, along with an invitation to an in-person VIP R&D tasting panel of new and experimental products.
Loyalty Bonus
Previous investors will receive 10% bonus interest.
*In order to receive perks from an investment, one must submit a single investment in the same offering that meets the minimum perk requirement. Bonus interest from perks will not be granted if an investor submits multiple investments that, when combined, meet the perk requirement. All perks occur when the offering is completed.
Crowdfunding investments made through a self-directed IRA cannot receive non-bonus interest perks due to tax laws. The Internal Revenue Service (IRS) prohibits self-dealing transactions in which the investor receives an immediate, personal financial gain on investments owned by their retirement account. As a result, an investor must refuse those non-bonus interest perks because they would be receiving a benefit from their IRA account.
The 10% Bonus for StartEngine Shareholders
Belle Isle Craft Spirits, Inc. ("Belle Isle Craft Spirits" or the "Company") will offer 10% additional bonus interest for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's Bonus.
Eligible StartEngine shareholders will receive a 10% increase in the annual interest rate on Convertible Promissory Notes in this Offering. This means your annual interest rate will be 8.8% instead of 8%.
This 10% Bonus is only valid during the investors eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are canceled or fail.
Investors will receive the highest single bonus they are eligible for among the bonuses based on the amount invested and time of offering elapsed (if any). Eligible investors will also receive the Owner’s Bonus and the Loyalty Bonus in addition to the aforementioned bonus.
Irregular Use of Proceeds
The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Vendor payments. Salary payments made to one’s self, a friend or relative. Any expense labeled “Travel and Entertainment”. Inter company debt or back payments.
PRESS
ALL UPDATES
REWARDS
10%
Stack Owner's Bonus & Rewards!
Members get an extra 10% shares in addition to rewards below!
Owner’s Bonus
Owner’s Bonus Members earn 10% bonus shares on top of this and all eligible investments for an entire year. Not a member? Sign up at checkout ($275/year).
JOIN THE DISCUSSION
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Jairus McAllum
a month ago
One more thing do you plan to turn our interest money into stock after 2027 or just pay us back out money. Because I am hoping for stock in this company.
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Jairus McAllum
a month ago
I am about to invest 3,000$ do you plan to trade on stock market someday or what is your ext strategy plan
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Keith Kreuzer
3 months ago
Love the product, makes it easy to invest in it.
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Daniel Kohnen
3 months ago
I received this new offer today and do not see where this incentive is factored in. What am I missing? Thank you, Dan "First Two Weeks | $5,000+ Invest $5,000+ within the first two weeks and receive 7% increase in the annual interest rate"
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Jordan Bryant
3 months ago
Reading your blurb and looking at the team, I do not find myself able to discern…where is your master distiller? Or are you not distilling your own liquor but rather buying and labeling it from one of the big white-label shops?
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Clarence Farrell
3 months ago
Tell us about distribution, how many states?, outside of the US?; targets for additional distribution?
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John Bristol
3 months ago
Hello am thinking of investing. Since we don't get shares, would we get shares at a later date and what price would that be? Also, for the RTD canned cocktails, I read that Mike's Hard Lemonade was successful because the drink name/design appealed to guys (as well as girls) and not just girls which the wine coolers back then appealed to. Have you tested the can drink names/design/company name with guys? Am thinking it could be a little more aggressive naming and design, with the logo being less prominent, since it is Moonshine after all. I like the logo, but to some guys the Belle Isle name and logo may appear somewhat feminine. Also, do we still get the 10% interest rate addition now and when does that end? Lastly, how many years do we get the 8% yearly interest rate return?
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Matthew McCurdy
3 months ago
Are investment reward Tiers 1-6 all still available? The checkout option is not showing the corresponding reward tier that aligns with my intended investment.
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Stacy Thomas
3 months ago
hi there- I invested and a lower tier and wanted to "upgrade" my investment by adding funds to what I've already invested. Am I able to do this or is each investment treated separately?
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Thomas Mahr
a month ago
Are timed based perks bonuses still good if I invest today ?
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