Weeks away from opening its doors Fate Brewing Co. — a new brewery and restaurant slated to open in the east Boulder space that once was long home to Jose Muldoon’s — recently completed a $900,000 investment round, Securities and Exchange Commission documents show.
Fate Restaurants LLC initiated the funding round in May 2012 and had raised $705,000 toward the $900,000 by September. Late last week, Fate Brewing officials notified the SEC they raised the remaining $195,000.
The latest investment came through as workers are nearing the restaurant and brewery for 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.
His hope with that renovation? To make sure that the space at 1600 38th St. does not resemble its long past as a Mexican restaurant.
“We wanted to really take a giant eraser to it,” he said.
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.
During the past year, breweries including Big Choice Brewing, Bootstrap Brewing, BRU Boulder, Echo Brewing, Gravity Brewing, J Wells Brewery, Shine, West Flanders and Wild Woods have opened in Boulder and Broomfield counties. Others such as Avery, Oskar Blues and Upslope have moved forward on opening new breweries.
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.”