How is a partnership formed?
Every racehorse is organized as a separate limited liability company or LLC. Bona Venture Stables typically offers eight full investment shares (a half share may also be purchased) in each racing opportunity. Management always purchases a minimum of two shares in each LLC. A full share is equal to 10% ownership in the horse/LLC. Typically we introduce two or three new investment opportunities a year in the spring for horses expected to race in the upcoming summer/fall seasons.
What does it cost to invest?

The initial cost or share price varies for each LLC. This price is based on a number of factors including the actual auction purchase price, sales tax and related fees, bloodstock agent commission, veterinarian charges, horse transportation fees, mortality insurance, legal fees, first-year daily training and related costs, and miscellaneous fees. Over the past few years, as the quality of our racehorses have improved and their success demonstrated on the racecourse, a typical 10% full share has ranged between $15,000 and $20,000. A half share or 5% ownership would range between $7,500 and $10,000, depending on the actual price. The initial purchase price also includes all monthly fees for that calendar year.

What are the monthly costs going forward?
Our experience has shown us that the current monthly cost to maintain a horse in full training on a New York Racing Association track (Saratoga, Belmont or Aqueduct) averages $4,800 per month. So, a 10% shareowner could be responsible for $480 per month or $1,440 on a quarterly basis. We bill at the beginning of each quarter. However, actual race winnings or purses earned may offset or exceed monthly expenses. In the first year the initial investment price includes all monthly training costs for that calendar year. The monthly fee is substantially reduced when the horse is out of training on the farm. Other charges, such as veterinarian fees exceeding $450 per month and transportation are billed quarterly. When purse earnings exceed investment costs, the balance is distributed to the ownership at the end of each racing meet.
How is BVS compensated?
Bona Venture Stables is compensated just as every owner in each horse is compensated. We retain a minimum of 20% ownership in each horse, so when the horse earns purse money, we share in that profit. A maintenance fee included in the monthly costs covers day-to-day expenses and administrative costs.
Can I make money investing in horses?
As you can imagine, thoroughbred horse investments are highly speculative. They can be lucrative if you find the next FUNNY CIDE, ZENYATTA, AMERICAN PHARAOH or JUSTIFY. They also can be costly when a horse’s expenses consistently exceed its income earned. At Bona Venture Stables each horse is set up as an individual LLC to manage the costs and the risks in the most affordable means possible while providing owners with an enjoyable and fun experience. Hopefully, the annual earnings will offset costs, but each owner may also have the potential of realizing income tax benefits from the investment. The thoroughbred asset is depreciated in an accelerated manner. Costs associated with investing, offset by any earnings, may offer each owner income tax benefits. Owners are encouraged to speak with a tax advisor to determine if ownership will be classified as an active or passive investment and what actual tax treatment is available. For additional information about the potential tax benefits and costs associated with ownership, we recommend you go to the Thoroughbred Owners and Breeders Association web site at:,, or
How competitive are Bona Venture Stable horses?
Bona Venture Stables horses are very competitive each year. In 2011, Royal Bonnie became our first Breeders’ Cup Championship runner. She competed in the $1 million Juvenile Fillies Turf Championship. In 2012, we returned to the Breeders’ Cup with Summer of Fun, who finished 3rd in the Juvenile Fillies Turf Championship. As a 3YO, she won several stakes races; she was retired in 2014 and sold for a significant profit as a broodmare. In 2013, Smooth Bert placed in all three of The Big Apple Challenge, the “triple crown” for New York breds. More recently, Majestic Bonnie broke her maiden in an impressive performance at Saratoga and finished 3rd in the P. G. Johnson Stakes for 2 year-old fillies and Competitive Saint has been very successful on the turf. Ocean’s Reserve is a leading NY bred runner on the NYRA circuit. We also have sold several mares who’ve developed as successful brood mares.
Is it worth it?
Turning a profit shouldn’t be the only consideration in thoroughbred ownership. Ownership affords you the opportunity to become part owner in a professional sports enterprise. You can become a licensed owner and experience the excitement of standing in the paddock on race day while hundreds of people look in awe at your horse as it is saddled and prepared to race. The heart pounding excitement of watching your sports franchise explode at the top of the stretch and carry your favorite racing colors across the finish line – a winner – has been described as one of the most exciting and exhilarating experiences many have incurred. Owners also frequently attend the races, entertain friends, participate in early morning workouts at the racetrack and tour the private stables to view the horses first hand.
What is the typical length of a racing partnership?
Generally we ask owners to commit for a minimum of two years. This gives the trainers enough time to evaluate the horse’s true potential through a combination of training and actual race experience. At that time, we then provide the owners our recommendation and ask them to consider whether to go forward or dissolve the partnership.
What happens when the horse is retired from training?
When it is time to consider thoroughbred retirement, we worked carefully to find a safe and secure second career or home for each horse. Depending on the situation we may sell, donate or retire the horse. Our commitment is to find each horse a safe and secure long-term home once they are off the racetrack.
How can I be involved?
The first step is to contact Bona Venture Stables and ask for additional information on current investment opportunities. You can contact us by emailing Dan Collins, manager, at or calling him at 607-368-1012.