Pronghorn Announces Investment In 3 Black-Owned Spirits Brands

As AfroTech previously told you, Pronghorn invested in Ciara’s Ten To One. This marked their first of 57 investments in Black-owned spirits brands that will take place over the next decade.

“Pronghorn’s goal is to cultivate the next generation of Black entrepreneurs, executive leaders, and founders within the spirits industry. We are thrilled to kick off the first of 57 investments in Black-owned spirits brands that will be made over the next ten years with Ten To One Rum,” said Harris, according to a press release. “Diverse representation in entrepreneurship will drive innovation, and Ten To One is a leading example of that through its continued reimagination of the rum category.”

Now, Pronghorn is investing in the following Black-owned spirits companies:

• Tequila with Friends
• Den of Thieves
• Ego Tequila

“We couldn’t be more thrilled to add these leaders and their brands to the Pronghorn family,” said Pronghorn Portfolio Director Connor McKenna, according to a press release. “They are exactly the kind of visionary entrepreneurs we look for, individuals who will lead the way as together we build a more diverse and equitable spirits industry.”

Pronghorn will supplement their commitment by admitting the companies into a supercharging program. Here, they will be connected with their team of leading experts who will work to expand their brand.

These efforts will work to provide Black entrepreneurs an even playing field within the sector by making resources accessible.

The company also has plans to decrease the employment gap and create $2.4 billion in “economic value” for the Black community.

This goal will be accomplished in more ways outside of their commitment to invest in 57 Black-owned spirit brands, as Pronghorn also hopes to position individuals in 1,800 roles within the sector.