Photo caption: Sauce on Side, owned by Rockingham Ranch and the crowdfunded syndicate MyRacehorse, shown in the Winners’ Circle at Del Mar after winning the 6th race on Saturday, Dec. 1. Sauce on Side is trained by Peter Miller.
A total of 65 racing fans made small investments through the latest app/website based technology known as crowdfunding, which culminated in a trip to the Del Mar winners’ circle. MyRacehorse owns 25% of Sauce on Side, and participants were allowed to invest in increments of .2%. A minimum investment of $230 included the equity in the horse and six months of pre-paid training and care fees.
According to Michael Behrens, founder of MyRacehorse, “Collecting the pre-paid training and care fees ensures investors are never obligated to make another investment outside of their initial investment.”
MyRacehorse was first launched in June 2018, garnering investors through social media as well as advertising in trade publications and racing programs.
“However, our number one source of acquisitions is word of mouth,” said Behrens. “We launched with just two horses and, mainly through word of mouth, we are now up to 18 horses.”
“Most of our participants (90%) are Southern California racing fans,” Behrens continued. “Some are very casual, attending the races only one or two times a year, while others are much more avid fans who attend the races weekly. The commonality is that all of them have been interested in ownership before and were just looking for a way to get involved at a level that they were comfortable with.”
TOC congratulates all of the owners of Sauce on Side, and we look forward to seeing more crowdfunded racehorses providing an ownership experience that fits each investor’s level of interest.