NextSeed Lists First Preferred Equity Deal as Blue Top Brand Seeks $3 Million

NextSeed launched its first preferred equity deal this week with Blue Top Brand, a company seeking $3 million on the investment platform.

The preferred equity is being issued at a pre-money valuation of $9,985,000 in a side-by-side Reg CF/Reg D offering.

NextSeed was previously only a Reg CF platform but with the addition of a broker-dealer license, the crowdfunding provider is moving into a more diverse universe of securities offerings. NextSeed was the first Funding Portal registered by the SEC in 2016, and the platform continues to reinvent how local economies can grow by facilitating access to capital and allowing any individual in the U.S. the opportunity to invest in small businesses and be part of its growth.

Blue Top Brand is a food company that creates sauces, condiments and dressings. This is the first consumer packaged good (CPG) company to partner with NextSeed to raise growth capital.

Blue Top Brand reports significant retail traction with major regional and national grocery store chains. The company currently has purchase orders in place with major chains including Walmart, H-E-B, Kroger, Albertsons, Safeway, Tom Thumb, Randall’s, Brookshire Grocery, Target, Meijer, Sobeys, Stop & Shop Supermarket, Giant Foods, Topp’s, and Heinens.

Blue Top Brand generated sales of $1.66 million last year. It has achieved significant traction with major regional and national grocery store chains. Purchase orders are in place with major chains including Walmart, H-E-B, Kroger, Albertsons, Safeway, Tom Thumb, Randall’s, Brookshire Grocery, and Target. The company claims to have broken into the top 25 in the hot sauce category condiment sales in the U.S The team has continued its expansion with additional agreements in place with new brokers to facilitate distribution.

Founder and CEO Chris West launched Blue Top Brand in 2015 after a successful career of over 25 years of experience in food and CPG sales, launching over 100 products with well-known brands.

“With Blue Top, I wanted to fill what I saw as a gap in the current market for a pepper-based aioli sauce that brings a mild, sweet heat to everything on your plate. Of all the iconic brands that I’ve had the privilege of being a part of over the years – including Tony Chachere’s Famous Creole Cuisine and Stubb’s Legendary Bar-B-Q Sauce – I’m seeing more excitement from customers that try Blue Top for the first time than I have ever seen in my career,” said West.

With the capital raised on NextSeed, the team will focus on scaling production, increasing distribution both domestically and internationally, and developing new products.