E-Malt.com News article: USA, CO: Fate Brewing Co. completes investment and nears opening

Weeks away from opening its doors, Fate Brewing Co. - a new brewery and restaurant - recently completed a $900,000 investment round, dailycamera.com reported on January, 14.

Fate Restaurants LLC initiated the funding round in May and had raised $705,000 toward the $900,000 by September. Late last week, Fate Brewing officials notified the Securities and Exchange Commission that they had raised the remaining $195,000.

The latest investment came through as workers are nearing an expected late-January opening.

The extensive remodel and acquisition of a new brewhouse took "quite a bit of investment", said Mike Lawinski, founder of Fate Brewing.

When finished, the restaurant is expected to seat 200 inside and have the potential to nearly double that when the patio is open. Fate Brewing also will have a 25-seat bar and 30 draft lines for about a dozen of Fate's beers and several other craft beers, he said.

Fate Brewing's arrival comes amid a regional and national craft brewery boom.

Calling Boulder a "beer-happy town", Lawinski said he believes the breweries not only could carve out their own niches but also help the local industry.

Fate Brewing's considerably sized restaurant and beer bar approach could help lure more patrons to east Boulder breweries, he said.

"I really think the diversity we have in this (business) plan will attract a lot of people," he said. "We live with the philosophy that the more people we can bring to the area, the better it will be for all of us."


16 January, 2013