A leading venture capital fund for women-of-color businesses has made yet another groundbreaking investment.
On May 16, Fearless Fund announced it has invested in LS Cream at the valuation of $10 million, according to a press release.
LS Cream is recognized as the first Black-owned cream liqueur.
Founded by couple Myriam Jean-Baptiste and Stevens Charles, the brand is inspired by “cremas,” a traditional Haitian drink.
As previously reported by AfroTech, LS Cream — which was on track to quintuple its revenue back in 2021 — pays homage to Charles’ late grandmother’s recipe.
In addition to honoring the cherished elder’s legacy, the two launched LS Cream to invite others to experience their Haitian culture. The cream liqueur has the taste of “cremas” but has been transformed into a luxury spirit for the modern-day drinker.
“The wine and spirits industries are overwhelmingly male-dominated, and women of color’s stories and legacies are significantly underrepresented,” Jean-Baptiste said in a press statement. “Fearless Fund’s investment in LS Cream will allow us to scale our business and increase our distribution footprint in the U.S. while expanding our presence in our current markets.”
LS Cream’s mission to “introduce a new generation of drinkers to the luxury and versatility of cream liqueurs” was a standout to Fearless Fund, which is known for investing in companies that aren’t afraid to shake the table in their industries.
“We are always looking for trailblazing women of color who are pushing the boundaries in their respective fields, and LS Cream is a perfect example of that,” Arian Simone, co-founder of Fearless Fund, said. “After many taste tests from our team and personal contacts, everyone agrees that LS Cream is a delicious and transformative product that is sure to become a staple in the wine and spirits industry.”