Evolution Stables

In Founder Focus we introduce entrepreneurs and change-makers working on innovative startups, social enterprises and SME’s around Aotearoa New Zealand.

At a glance

Founder: Alex Baddeley

Business: Evolution Stables

Founded: 2022

HQ: Auckland

Can you tell us a bit about your business?

Evolution Stables is transforming thoroughbred racehorse ownership through Digital Syndication, a modern twist on the century-old syndication model. We’re making ownership more accessible and engaging for both seasoned enthusiasts and newcomers alike.

Traditional syndication allows multiple owners to share the costs and excitement of racehorse ownership, but it fails to meet the needs of the next generation of digital-first enthusiasts. Our platform retains the best aspects of traditional ownership while addressing key challenges:

High entry barriers? Fractional ownership via digital tokens makes it affordable to own a quality racehorse.
Lack of liquidity? Our centralised marketplace lets you buy and sell shares with real-time valuations.
Limited control? You decide when to invest or divest—not a syndicate manager.
Complex management? Our dashboard puts all the key information at your fingertips.
Lack of transparency? We offer clear, real-time data on costs, returns, and performance.

We bridge the gap between tradition and innovation, opening this thrilling sport to a new generation of owners. Our goal is to inject fresh energy and investment into the racing industry, making it more accessible and flexible for everyone.

Whether you’re a racing enthusiast or a curious newcomer, Evolution Stables offers the chance to experience thoroughbred ownership in a modern, user-friendly way.

What’s the backstory for your business idea?

Evolution Stables was born from the convergence of my passion and experience. Growing up on a farm, I’ve always enjoyed riding and horses. Later, living in Hong Kong overlooking Happy Valley Racecourse, I experienced the excitement of weekly races drawing over 25,000 spectators.

My background in finance, where I structured deal flow to enhance liquidity, merged with my passion for transformative technologies like tokenisation. I saw the potential for tokenisation to reshape ownership models and bring needed innovation to racing.

In 2022, these elements aligned, and Evolution Stables was born. My experience in financial markets, structuring ownership models, and focusing on liquidity, regulation, and value creation uniquely positions me to bring digital syndication to life.

What programmes, learning or mentoring, or resources have been of assistance so far?

I’ve leaned heavily towards mentors. Ben Morreau – ex-ROAM Founder and co-founder of the recent startup Ryft, has been amazing. He’s taught me the power of iteration.
Being in a startup is almost an endless journey of iteration, especially when you consider the tech and consumer landscape. Not only are the goalposts continually moving, but so is the field you’re playing on. Being comfortable knowing that there’s no single fixed point where you get to say ‘finished’ is crucial. This idea ties in with an author I love and one of his books: David Goggins‘ “Never Finished.”
Another person whose message resonates with me is Luke Kemeys. I first connected with him through Boys Get Paid, a 25,000-strong punters club. Known as the “people’s accountant,” he also runs the Keep the Change podcast. While he’s not a direct mentor, I’ve followed his journey closely and picked up valuable insights. His no-nonsense approach—just start, learn as you go, and get better over time—has helped me feel more comfortable with tasks like posting content on social media.
I even remember jumping into the deep end of the pool as a kid—I’m very much about doing and seeing what happens, with the mindset that worst case, you’ll gain some learnings along the way. In this case, I was dragged out of the pool by my dad and got a kick in the butt for jumping in without water wings—a learning experience all the same!