Exhibit 21.1
Subsidiaries of Gaucho Group Holdings, Inc.
| 1. | Gaucho Group, Inc., a Delaware corporation (owned 79% by Gaucho Group Holdings) |
| 2. | InvestProperty Group, LLC, a Delaware limited liability company |
| 3. | Algodon Global Properties, LLC, a Delaware limited liability company |
| 4. | DPEC Capital, Inc., a Delaware corporation (dormant) |
| 5. | The Algódon – Recoleta S.R.L., an Argentine Sociedad de Responsabilidad Limitada (owned 100% through InvestProperty Group, LLC, Algodon Global Properties, LLC, and Algodon Properties II S.R.L.) |
| 6. | Algodon Europe Limited, a United Kingdom private company (owned 100% by InvestProperty Group, LLC) |
| 7. | Algodon Properties II S.R.L., an Argentine Sociedad de Responsabilidad Limitada (owned 100% through InvestProperty Group, LLC and Algodon Global Properties, LLC) |
| 8. | Algodon Wine Estates S.R.L., an Argentine Sociedad de Responsabilidad Limitada (owned 100% through InvestProperty Group, LLC, Algodon Global Properties, LLC, Algodon Properties II S.R.L. and The Algódon – Recoleta S.R.L.) |
| 9. | Bacchus Collection, Inc., a Delaware corporation (newly-formed, not operating) |