August 26th 2023.
Pronghorn, an investment brand on a mission to help cultivate the next generation of entrepreneurs in the spirits industry, has just announced its fourth round of angel investments in three Black-owned brands.
The investments, which come in honor of Black Business Month, will be put into Abisola Whiskey, Los Hermanos Tequila 1978, and Alexander James Whiskey.
The news follows Pronghorn’s first anniversary in June, when the company announced it had raised $200 million to help empower Black entrepreneurs in the spirits industry.
Steve Brown, VP of Finance for Pronghorn, said in a statement, “In a short time, Pronghorn has been able to add more Black-owned spirits companies to its portfolio, accelerating our growth faster than we anticipated. Each of the new investments just adds to our mission of assisting the next generation of Black entrepreneurs in the industry.”
Abisola Whiskey was created in 2021 by Abisola Abidemi, as a way to represent and celebrate the modern-day whiskey drinker, and to recognize the ambitious young women and men from all backgrounds who achieve greatness every day.
Los Hermanos Tequila 1978 was established in 2020 by brothers Donta and William Henson, to produce a smooth and subtle tequila with a unique flavor.
Alexander James Whiskey was inspired by its founder, Jesse Steward Jr., and his two grandfathers, who were best friends. He created the whiskey in 2021, in order to pass down the family legacy to his son, and to enhance the legacies of all consumers and their families.
Pronghorn is working hard to develop a blueprint for diversifying the industry, which has not fairly represented its consumer audience. Jomaree Pinkard, CEO of Pronghorn, commented, “Pronghorn is dedicated to advancing the economic wellbeing of Black founders in the space. In the past year, we have invested in 20 Black-owned spirits brands, and have been steadily increasing the percentage of Black executives and employees in the industry. We won’t stop until the industry reflects the consumers it serves.”
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