Pronghorn Announces Fourth Round Of Investments In Spirits Brands
Pronghorn, a standalone investment brand on a mission to cultivate the next generation of entrepreneurs in the spirits industry, announced its fourth round of angel investments in three spirits brands.
Pronghorn has invested in Abisola Whiskey, Los Hermanos Tequila 1978, and Alexander James Whiskey. The investments celebrate the rise of Black entrepreneurs across growing industries across the U.S. in honor of Black Business Month.
The announcement also comes on the heels of Pronghorn’s first anniversary in June when it announced it raised $200 million to uplift Black entrepreneurs in the spirits industry.
“In a short period of time, Pronghorn has continued to rapidly increase its portfolio of Black-owned spirits companies, accelerating our growth trajectory faster than we anticipated,” Steve Brown, VP of Finance for Pronghorn, said in a statement. “The latest additions only further propel us to our goal of enhancing the next generation of Black entrepreneurs in the industry while showcasing our continued commitment to investing in high-growth categories.”
Abisola Whiskey is not a traditional whiskey. Launched in 2021 by Abisola Abidemi, Abisola Whiskey was created to represent and celebrate the modern-day whiskey drinker, forge a new legacy, and celebrate the strong, bold young women and men from all backgrounds who achieve greatness every day in their way.
Los Hermanos Tequila 1978 was created in 2020 during the height of the pandemic by brothers Donta and William Henson. They came together to found Los Hermanos Tequila 1978, a smooth, subtle on-the-nose tequila with hints of banana peel, eucalyptus, white pepper, and tutti fruity on the palate – and Los Hermanos Tequila Reposado – floral on the nose with hints of rosemary, thyme, vanilla bean, and white flowers on the palate.
Alexander James Whiskey was inspired by his two grandfathers, who were best friends. Jesse Steward Jr. founded Alexander James Whiskey in 2021. Named after his son to continue the family tradition of sharing history through storytelling over a glass of whiskey, Alexander James Whiskey is a straight bourbon whiskey with 13 original cocktail blends that aims to enhance the legacies of all consumers and their families for years to come.
Pronghorn is developing a blueprint for diversifying an industry that has severely underrepresented its prominent consumer audience. Pronghorn is working with the Black community, who have long been underrepresented in this growing space despite a significant and historic presence in the industry.
“Pronghorn’s unwavering dedication to advancing the entrepreneurial and economic livelihood of Black founders in the space enables us to get closer to reaching our goal of investing in 57 Black-owned brands and producing $2.4 billion for the community,” said Jomaree Pinkard, CEO of Pronghorn. “In just one year, we’ve invested in 20 Black-owned spirits brands, changing these founders’ lives forever, all while steadily increasing the percentage of Black executives and employees in the overall spirits labor force. We will continue to work towards this mission until the industry reflects the consumers that it serves.”