MobCraft Beer is the first company in Wisconsin to raise capital through the state’s new crowdfunding law, the company announced earlier today at a press conference held at Monona State Bank.

“We’re honored to be the first Wisconsin company to use the new equity crowdfunding exemption,” Co-Founder and CEO Henry Schwartz said. “This access to capital allows our fans to own part of MobCraft, and it helps us grow.”

The financial campaign, which officially began at 11 a.m., states that MobCraft can sell shares to both certified and non-certified investors.

CraftFund LLC is serving as the exclusive web portal for the offering. According to state law, only Wisconsin residents may participate in the offering.

Monona State Bank is the financial institution that will hold the escrow funds.

Should MobCraft, which brews beers based on the votes of fan-submitted recipes, achieve its offering target, it will use the proceeds toward new equipment and purchasing its own facility, the company announced.

Among the speakers were Schwartz, Monona State Bank President Paul Hoffmann and State Rep. David Craig, who co-authored the bill.