The family group behind Bollinger champagne has increased its minority stake in Bordeaux Index, where former Conservative Party treasurer and City broker Michael Spencer is chairman.
The new capital will primarily be used to expand Bordeaux Index's online wine trading platform, LiveTrade, which saw its activity rise by around 55% in 2021.
Bordeaux Index, which reported record sales of US$174mln (£128mln) in 2021, has been chaired by Spencer, the founder of City inter-dealer broker Icap, after he made an investment via his 'family private equity business', IPGL.
The online wine trading platform was co-founded by Gary Boom, who worked with Spencer at Intercapital Group, which later become Icap.
IPGL, based in Knightsbridge, has invested in other UK companies, including £20mln into Elvie, a technology business that developed a wearable breast pump and a smart pelvic floor exerciser, as well as wine producer Chapel Down, broker Numis and investment platform AJ Bell.
Spencer sold Icap to Tullett Prebon (LSE:TLPR) in 2017 and sold his trading and technology company, NEX, to Chicago Mercantile Exchange in 2018.Bordeaux Index SJB's investment comes at a time as the fine wine markets continue to see strong global activity with trading volumes and market prices both increasing.
"We are delighted to build on our successful partnership with Bordeaux Index. The company is on an exciting growth trajectory and we believe that there is still far more to come as technology continues to accelerate the growth of the fine wine and premium spirits markets," said Etienne Bizot, chief executive of Societe Jacques Bollinger.