Foley 'major' stake key to $3 million new round for Crushpad

SONOMA --  Bill Foley has added to his growing portfolio of wine companies with what's being described as a "major investment" in Crushpad, a custom winery for thousands of hobbyists and small-scale labels that moved to Napa Valley a year ago and now is bound for another of Mr. Foley's holdings, Sebastiani Vineyards in Sonoma.

Mr. Foley is taking a minority stake in Crushpad, but his is the largest contribution to what is expected to be a $3 million round of funding, according to Mark Marinozzi, vice president of marketing for Crushpad.

"Foley is a piece of the investment pie," he said. "A lot of previous investors re-invested, and a number of clients are private investors."

Among those previous investors are members of the board of directors, which includes Peter Engel, a top West Coast investment banker with JPMorgan Chase and owner of a small Sonoma County vineyard, Jean-Charles Boisset, president of St. Helena-based Boisset Family Estates, and Gap Inc. founder Bill Fisher, who started Manzanita Capital.

Crushpad has received more than $15 million in funding since it began, according to a spokesman.

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