Pronghorn has unveiled its newest round of angel investments in four additional Black-owned spirits companies: Anteel Tequila, Common Ground Spirits, Delta Dirt Distillery, and Old Hillside Bourbon Co.
In addition to money, the distillers will be supported with critical resources like consulting services, direct industry expert access, and more to build a wide array of business levers fundamental to brand growth – from brand marketing to e-commerce and more.
The newest investment round marks the company's milestone of nine total investments in its first year, which surpasses the company's annual investment benchmarks that pave the way towards its overarching 10-year goal of investing in 57 Black owned and led spirits brands. Pronghorn has invested in brands like Ten To One Rum (an award-winning Caribbean rum brand founded by CEO Marc Farrell and co-owned by GRAMMY-winning artist, Ciara), Ego Tequila (the first Black woman owned tequila in the state of Texas), Den of Thieves Whiskey, Hella Cocktail Co., and Tequila With Friends.
With the company's expansion of capital investments, rapidly developing resource programs, and accumulated support from powerful spirits industry giants, Pronghorn is positioned to transform the state of the industry as we recognize it today. Through Pronghorn's work, the company aims to not only generate $2.4 billion in economic value for the Black community by 2032 through its own efforts, but create a sustainable, replicable model that will produce lasting change in the category, community, and culture.