Republic Republic Republic
  • Log in
Oops! We couldn’t find any results...
Can’t find a deal? Try advanced search.
Is something missing? Add your suggestion here.
Primary market Live deals Secondary market Buy and sell Republic Note Own a piece of Republic's upside Investor Network Membership Receive exclusive discounts and benefits
Republic Venture Opportunities for accredited investors
Republic Capital Multi-stage venture firm Republic Digital Crypto hedge fund
Wallet Manage your digital assets Mobile app Available on iOS or Android Learning center Explore investor resources FAQ Get your questions answered
Capital fundraising Raise on Republic Tokenized assets Design, launch, manage tokenized assets Sharedrops Gift equity as a reward
Advisory Access veteran web3 advisors Infrastructure Stake your digital assets Tokenization Deploy your assets on-chain Asset management Explore digital asset funds
Republic Capital In-house Venture Capital fund Broker dealer Regulated capital services
Log in Sign up

Republic Republic Republic
Oops! We couldn’t find any results...
Can’t find a deal? Try advanced search.
Is something missing? Add your suggestion here.
  • US
  • Log in
  • Sign up
All investors
Primary market Live deals Secondary market Buy and sell Republic Note Own a piece of Republic's upside Investor Network Membership Receive exclusive discounts and benefits
Accredited only
Republic Venture Opportunities for accredited investors
Institutional
Republic Capital Multi-stage venture firm Republic Digital Crypto hedge fund
More
Wallet Manage your digital assets Mobile app Available on iOS or Android Learning center Explore investor resources FAQ Get your questions answered
Spotlight deal
Hamilton Lane Private Infrastructure Fund
Hamilton Lane Private Infrastructure Fund
Get unique access to the full spectrum of private markets with Hamilton Lane
Growth capital solutions
Capital fundraising Raise on Republic Tokenized assets Design, launch, manage tokenized assets
Sharedrops Gift equity as a reward
Web3 services
Advisory Access veteran web3 advisors Infrastructure Stake your digital assets Tokenization Deploy your assets on-chain Asset management Explore digital asset funds
Institutional services
Republic Capital In-house Venture Capital fund
Broker dealer Regulated capital services

Tropical Racing isn't accepting new investments

Tropical Racing’s deadline was March 31, 2021

Follow the company to stay updated on their progress, including future investment opportunities


Explore new investment opportunities:
View companies raising now
Campaign ended
Logo of Tropical Racing

Tropical Racing

Disrupting the thoroughbred horse racing establishment
Sports
Facebook Telegram Twitter LinkedIn
Featured image of Tropical Racing
$141,432
Raised
102
Investors
Successfully funded and closed on March 31, 2021.
Invest in Tropical Racing

Open for investment

Investors in Tropical Racing also invested in these companies. View more
Logo of RYSE

RYSE

Smart Shades for your Smart Home - over $9mm in sale...

Capital R · Reg A+
Loading...
Pitch Updates 4 Reviews 33
Invest Invest in Tropical Racing
Facebook Telegram Twitter LinkedIn
Closed on March 31, 2021. Information may not be up-to-date. Campaign closed on March 31, 2021. Information displayed may not be up-to-date.
Background Concept Property Portfolio Customers Biz. model Market Competition Vision and strategy Funding Founders
About Team Press

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Tropical Racing, Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Tropical Racing Tropical Racing SPA
Loading

Hear from some of the 102 investors in Tropical Racing


Show more

Highlights


  • Gain access to one of America's finest horse racing franchises
  • $3.4M in assets including a 200 acre farm in Kentucky and 50 thoroughbreds
  • Founder with over 35 years in the thoroughbred racing industry
  • $102B equine market size and over $1B in U.S. thoroughbred sales annually
  • $4.9 million raised to date

Background


The thoroughbred industry generates over 1 billion dollars in public horse auction sales annually

The everyday horse enthusiast now has the chance to participate and profit from their interest. With Tropical Racing, you don't just buy into a racehorse; you get your own piece of a racing franchise.

Horse racing is an exclusive sport and an even more exclusive business, a private club for nobility and billionaires. It's not just the high price of entry that has kept investors out—it's the need for inside knowledge and a well-run operation before one can begin to turn a profit. Getting access to a horse racing franchise usually takes years on the scene and millions of dollars. 

We're changing that. 

Through this offering, all types of folks, from enthusiasts to new owners, have the chance to own "a piece of the house" by investing in an asset backed sports franchise—Tropical Racing.

For us, horse racing is more than just a sport. It’s our business and our passion.

Concept


Nestled in the heart of thoroughbred country on 200 acres of prime Kentucky bluegrass lives one of America’s finest thoroughbred racing and breeding operations, Tropical Racing

Through strategic acquisitions, breeding, and training programs, our team is dedicated to producing world class championship thoroughbred racehorses.

Property


Our farm's location in central Kentucky offers a strategic advantage for racehorse owners. Those within the bluegrass community have advanced knowledge of exceptional offerings, are amongst the first to know about the next “hot” stallion, and are positioned to purchase one-of-a-kind horses that may have slipped through the cracks at auction.

Having the right infrastructure in place reduces the maintenance costs of young horses in training. Feed and housing fees are greatly reduced, and the logistics behind transporting horses are simplified. Everything becomes a well-controlled, in-house strategy. Stable management is streamlined and efficient, saving our partners and shareholders money and advancing our horses throughout their careers and into their retirement. 

Property Features:

Training facilities

Tropical Racing’s thoroughbreds are developed and conditioned by trainer Michelle Nihei

Michelle first established herself as a trainer in 2008, winning her first stake race that same year. With only 20 horses in her stable, she went on to win multiple graded stakes, headed by Prince Will I Am, winner in Grade I, the most competitive race category in the United States, as well as graded stakes winners Regalo Mia and Upgrade.

Tropical Racing’s 2-year olds begin their racing careers with Michelle early in the spring. The ability of each horse is assessed by their performance in the mornings and within the first few races. Individual achievement determines future races and the locations of racing opportunities.

Portfolio


By the end of Q2 2021, Tropical Racing expects to have more than 50 thoroughbred horses in our portfolio

This includes a winning combination of racehorses, broodmares and foals.

We expect to expand our stables throughout 2021, and strive to have a portfolio of 65-75 horses by year end.

Tropical Racing recently acquired a share of the millionaire winner stallion, Global Campaign, sired by the champion Curlin out of the A.P. Indy mare Globe Trot.

This means Tropical Racing owns lifetime breeding rights to Global Campaign, and for 4 years a reserved place for 2 mares along with participation in the stallion’s profits. Tropical Racing maintains the right to sell our share down the road.

As our operations continue to grow we plan to add more stallions to our ranch’s portfolio.

Customers


Our customers include the over 185,000 current racehorse owners and the millions of horse racing enthusiasts that have wanted to be able to participate in the thoroughbred industry but until now, haven't known how

Business model


Our Revenue Streams:

1. Thoroughbred Syndication

A syndication partnership offers thoroughbred enthusiasts a more affordable and risk adverse path to racehorse ownership, while also giving new owners a chance to learn the ropes. Tropical Racing’s syndication options offer a percentage of a horse or groups of horses. Below is an example of a typical transaction:

At times we may choose to increase our ownership percentage to much larger than the 10% ownership interest if it makes financial sense to our operations. That said, past performance is not indicative of future results.

2. Horse Sales

Our team is also active at the major thoroughbred yearling sales, including the Keeneland September Sale, Saratoga Yearling Sale and OBS Yearling Sale. With our extensive connections we also buy and sell our horses privately when it makes economic sense for the team and investors.

These stunning thoroughbreds are living, breathing animals, and also tremendous financial assets. Selecting the best assets from thousands offered for sale each year demands a set of finely-honed skills and hands-on knowledge, combined with an ability to properly analyze the market. That’s why Tropical Racing works only with a handpicked group of the country's finest bloodstock agents.

3. Broodmare Breeding Program

Each broodmare represents a unique set of genetics that determine her breeding and racing potential. A winning thoroughbred foal is the result of a well-designed broodmare management program. Each broodmare represents a unique combination of breeding, racing, and genetic characteristics.

Yearlings are purchased with a primary focus on pedigree and conformation so the value of each healthy foal generally mirrors the dam’s value. As the siblings achieve in better races the younger foals’ appraisal increases.

These two auctions are amongst two of the world's largest and most prestigious sale events in the racing industry and attract international participants.

4. Circle 8 Pinhooking Group

ON AVERAGE SINCE 2015 PINHOOKING TRANSACTIONS ACROSS THE INDUSTRY HAVE SUSTAINED A 20% NET PROFIT.

Many of today’s race horses were “pinhooks,”meaning they were typically bought as yearlings, then trained and sold the following year as two year olds.

In fact, the strongest market for young thoroughbreds is at the multiple two-year-olds-in-training sales held annually at reputable sales companies around the country. These sales are frequented by trainers and owners across the U.S., as well as international buyers.

5. Stud Service

Tropical Racing recently acquired a share of the millionaire winner stallion, Global Campaign, sired by the champion Curlin out of the A.P. Indy mare Globe Trot. This means Tropical Racing owns lifetime breeding rights to Global Campaign, and for 4 years a reserved place for 2 mares along with participation in the stallion’s profits. Tropical Racing maintains the right to sell our share down the road.

6. Race Earnings

In 2019, Tropical Racing brought in over 300K in purse winnings. With an expanded portfolio, increased training facilities, new breeding partnerships and more young horses graduating our training program every month our management team anticipates that number to increase to over 1M for the 2021 racing season.

Pictured above Margaret's Joy, winning 1st place at Churchill Downs in November 2020.

Market


$102B U.S. equine industry

The equine industry is one of the biggest industries that is hidden in plain sight. Most people outside (and many within) have no idea the global scale and significance of this space.

The thoroughbred industry has remained despite every World War, depression, recession, stock market crash, and every real estate crunch. In fact, Pinhooking sales from thoroughbreds during the 2008/2009 economic downturn still should a positive ROR of 27%.

Competition


Regardless of the size of other thoroughbred operations, our true competition will always come down to the individual racehorse we're competing against at the gate. The great thing about our industry is that more often than not our competition will also become our customer, client and partner.

Vision and strategy


Main Street investors can own a piece of an industry that has been the private playground of kings and queens, hedge fund tycoons and sheiks

Today, you can cross over the “velvet rope” and take your stake in this $102 billion industry.                     

At Tropical Racing, we have a modern take on an ancient sport that promises to be lucrative and exciting—and we're happy you're along for the ride.

Funding


$4.9 million raised to date

Tropical Racing's team is excited about this great opportunity to reach a larger investor base and bring in individuals who wouldn't normally have the avenue to get involved in this hidden gem of an industry.

Founders


Born in Queens, NY, Troy's love for the horseracing industry began when his father took him to the racetrack when he was 13 years old. From there, Troy's career started at age 16. When he was 18, he became one of the youngest trainers in New York. He attended Long Island University and continued to train horses for the next 7 years. Troy started a family and felt traveling up and down the east coast was getting harder. With that he turned a 180 and headed to the financial industry. During the next chapter in his life, Troy became a stockbroker, trading for companies like Spear Leeds and Kellogg.

Troy has owned numerous successful businesses over the years while always involved in the racehorse industry. Studying, breeding, buying and selling racehorses, his true passion was undeniable. Troy's dedication and expertise with racing grew to include breeding, syndication, and in 2017, forming his own racing partnership group, Tropical Racing.

With his background in finance, Troy is able to find inefficiencies in the pricing of horses. Unlike the stock market, there isn’t a public market or exchange for horse pricing. This means savvy players are able to take advantage of one of the few non-computerized asset classes left on the planet.                       

And by exploiting these inefficiencies, Troy and his team are able to reap windfalls from buying, selling, and syndicating the right horses. A story like Troy’s just goes to show how excellence in this industry is not just something anyone can attain. It takes a lifetime of dedication, building the right connections, and gaining the right knowledge to properly succeed in the sport of Kings and Queens.

Deal terms


Minimum investment

$450

The smallest investment amount that Tropical Racing is accepting.
Learn more

Funding goal

$1.07M

Tropical Racing must achieve its minimum goal of $100K before the deadline. The maximum amount the offering can raise is $1.07M.
Learn more

Deadline
Tropical Racing needs to reach their minimum funding goal before the deadline ( ). If they don’t, all investments will be refunded.
Learn more
Type of security

Stock Purchase Agreement

Crowd SPA (Stock Purchase Agreement) is a simple agreement to acquire an ownership stake in a corporation.
Learn more

Valuation

$108,516,122

The stated valuation of the company before any subscriptions are taken in to account. Each dollar invested in Tropical Racing will increase the valuation by that same amount, assuming the offering is successful.
Learn more

Price per security

$2.25

The price of each unit of stock.
Learn more

How it works

Documents

Republic (OpenDeal Portal LLC, CRD #283874) is hosting this Reg CF securities offering by Tropical Racing, Inc.. View the official SEC filing and all updates:
Official SEC Logo Form C SEC.gov
Company documents
Tropical Racing Tropical Racing SPA

About Tropical Racing

Legal Name
Tropical Racing, Inc.
Founded
Mar 2017
Form
Florida Corporation
Employees
6
Website
tropicalracing.com
Social Media
Headquarters
Google Map location of of Tropical Racing
1740 Grassy Springs Road , Versailles, KY
Headquarters
1740 Grassy Springs Road, Versailles, KY, United States 40383

Tropical Racing Team
Everyone helping build Tropical Racing, not limited to employees

Profile picture of Michelle Nihei
Michelle Nihei
Trainer / Bloodstock Agent
Born in Western Canada, Michelle began riding horses at two years old. She holds multiple degrees including a BSc, MS, and a PhD. Her career as a Neuroscientist at John Hopkins University pivoted into the horse racing world.
Profile picture of Troy Levy
Troy Levy
Founder
Troy’s career started at age 18 as one of the youngest horse trainer in New York. His dedication and expertise with racing grew to include breeding, syndicating and in 2017, forming his own racing partnership group, Tropical Racing.
Profile picture of Sunny Sharma
Sunny Sharma
Interim CFO
Sunny Sharma has over 20 years of experience in public, private equity and individual investor backed entities in various sectors including education, healthcare, and technology.
Michelle Nihei
Trainer / Bloodstock Agent
Troy Levy
Founder
Sunny Sharma
Interim CFO

Press

Tropical Racing and Circle 8 Ranch Runners Enjoying Sensa...
Past The Wire Past The Wire
·
Sep 30, 2020

Versailles, Kentucky, USA - September 30, 2020 -­ In the short span of 48 days, four fillies and a gelding from Tropical ...

MarketWatch Interview:
Bloodhorse Bloodhorse

Troy Levy, the founder and CEO of Circle 8 Ranch.

Circle 8 Ranch Approved for Official Timed Workouts
Bloodhorse Bloodhorse

The 200-acre training center is near Versailles, Ky.

Logo of Tropical Racing

Tropical Racing

Tropical Racing successfully raised $141,433 from 102 investors on March 31, 2021
Profile picture of Marco Rossi
Profile picture of Murphy Rogers
Profile picture of Thomas Trompeter
Profile picture of Patrick Oneal
Profile picture of Aldrien Crisologo
Marco, Murphy, Thomas, Patrick, Aldrien, and 97 others invested. 33 Reviews
Republic

Giving everyone access to early-stage startup investing

For investors
  • Why invest
  • How it works
  • FAQ
  • Risks
  • Privacy policy
  • Accessibility
  • Cookie Preferences
  • Form CRS
For startups
  • Why raise
  • Learn
  • FAQ
  • Instruments
  • Crowd SAFE
  • Tokenized assets
Company
  • About
  • Journal
  • Events
  • Contact
  • We're hiring!
Dollar Refer a startup, get $2,500
Dollar Refer a startup, get $2,500

Invest in the app

Android app iOS app

Invest in the app

Android app iOS app

This site (the "Site") is owned and maintained by OpenDeal Inc., which is not a registered broker-dealer. OpenDeal Inc. does not give investment advice, endorsement, analysis or recommendations with respect to any securities. All securities listed here are being offered by, and all information included on this Site is the responsibility of, the applicable issuer of such securities. The intermediary facilitating the offering will be identified in such offering’s documentation.

All related securities activity is conducted by OpenDeal Broker LLC a registered broker-dealer, Member of FINRA and SiPC, an affiliate of OpenDeal Inc. and OpenDeal Portal LLC, located at 149 5th Avenue, 10th Floor, New York, NY 10010. Please check our background on FINRA’s BrokerCheck.

Certain pages discussing the mechanics and providing educational materials regarding regulation crowdfunding offerings may refer to OpenDeal Broker LLC and OpenDeal Portal LLC collectively as “Republic”, solely for explanatory purposes.

Neither OpenDeal Inc., OpenDeal Portal LLC nor OpenDeal Broker LLC make investment recommendations and no communication, through this Site, or in any other medium, should be construed as a recommendation for any security offered on or off this investment platform. Investment opportunities posted on this Site are private placements of securities that are not publicly traded, involve a high degree of risk, may lose value including the total loss of invested capital, are subject to holding period requirements and are intended for investors who do not need a liquid investment. Past performance is not indicative of future results. Investors must be able to afford the loss of their entire investment. Only qualified investors, who understand the risks of early-stage investment and who meet the Republic's investment criteria may invest. Investors may be restricted to only Accredited Investors or non-U.S. persons, to invest in offerings hosted by OpenDeal Broker. Neither OpenDeal Inc., OpenDeal Portal LLC nor OpenDeal Broker LLC, nor any of their officers, directors, agents and employees make any warranty, express or implied, of any kind whatsoever related to the adequacy, accuracy or completeness of any information on this Site or the use of information on this site. Offers to sell securities can only be made through official offering documents that contain important information about the investment and the issuers, including risks. Investors should carefully read the offering documents. Investors should conduct their own due diligence and are encouraged to consult with their tax, legal and financial advisors.

By accessing the Site and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy. Please also see OpenDeal Broker’s Business Continuity Plan and Additional Risk Disclosures. All issuers offering securities under regulation crowdfunding as hosted by OpenDeal Portal LLC are listed on the All Companies Page. The inclusion or exclusion of an issuer on the Platform Page and/or Republic’s Homepage, which includes offerings conducted under regulation crowdfunding as well as other exemptions from registration, is not based upon any endorsement or recommendation by OpenDeal Inc, OpenDeal Portal LLC, or OpenDeal Broker LLC, nor any of their affiliates, officers, directors, agents, and employees. Rather, issuers of securities may, in their sole discretion, opt-out of being listed on the Platform Page and Homepage.

Investors should verify any issuer information they consider important before making an investment.

Investments in private companies are particularly risky and may result in total loss of invested capital. Past performance of a security or a company does not guarantee future results or returns. Only investors who understand the risks of early stage investment and who meet the Republic's investment criteria may invest.

Neither OpenDeal Inc., OpenDeal Portal LLC nor OpenDeal Broker LLC verify information provided by companies on this Site and makes no assurance as to the completeness or accuracy of any such information. Additional information about companies fundraising on the Site can be found by searching the EDGAR database, or the offering documentation located on the Site when the offering does not require an EDGAR filing.

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. Therefore, when you use the Services we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license, passport or other identifying documents.

Republic and its affiliates are not and do not operate or act as a bank. Certain banking services are provided by BankProv, member FDIC / member DIF. FDIC coverage only applies in the event of bank failure. Digital (crypto) assets and investment products are not insured by the FDIC, may lose value, and are not deposits or other obligations of BankProv and are not guaranteed by BankProv. Terms and conditions apply.

Invest in startups using your credit card
You can invest using your credit card

Made in SF/NYC