A leading venture capital fund for women-of-color businesses has made yet another groundbreaking investment.

New year, new deals! In a press release, it was announced that Black-owned Victor George Spirits (VGS) has closed a deal to purchase an equity stake in Palm Beach Distillery (PBD) located in West Palm Beach, Florida. Currently, PBD produces vodka, rum, and gin with Victor George Spirits products slated to join in on the production. “We feel this is a great opportunity to help Palm Beach Distillery get to the next level. The Victor George Spirits team brings experience, marketing, resources, and distribution opportunities that will help get our award-winning brands in the hands of more consumers,” said Chief Operating Officer and Master Distiller of Palm Beach Distillery Summer Piep in a press release statement.

Historically Black Colleges and Universities (HBCUs) are the institutions responsible for breeding the next generation of Black business owners and entrepreneurs. As the leaders of many industries, Black founders have the power to change them for the better — starting with their diversity problem. As a product of Florida A&M University (FAMU), founder Darrin Eakins had a vision to create a brand (a whiskey brand to be exact) inspired by a significant part of his college experience called DuBlase. Today, that brand represents a revolutionary act for Black founders breaking into the spirits industry and actually owning their spirits. Now, Eakins hopes to position his own brand as a catalyst for change to champion more Black ownership in an industry that lacks true diversity and equity.

The days of men being the face of the spirits industry are behind us as women are being ushered to the forefront and making their mark along the way. Black women specifically have found a way to become trailblazers in this space as they’re not only the owners behind some of today’s most popular spirits brands, they’ve also managed to build successful businesses based on powerful origin stories. As we celebrate Women’s History Month this year, we’re also honoring the Black women who are becoming leaders across the spirits industry and breaking barriers with their brands. Check out the below spirit brands and the powerful Black women owners behind them: AVEC Drinks Courtesy of AVEC Drinks AVEC Drinks was founded by Bronx native Dee Charlemagne and U.K. native Alex Doman and successfully launched on the market in June 2020 amid the pandemic. Within its first four months, AVEC managed to bring in roughly $100,000 in revenue, selling through its first batch of 40,000 cans. AVEC is...

If you’re a whiskey lover, you are in for a treat! Jason Ridgel is a Black entrepreneur who just signed a historic partnership deal with a Kentucky-based Black-owned distributor for his whiskey brand, Guidance Whiskey. With this power move, the Tennessee-based whiskey has been selling like hotcakes! Founded in 2018, Guidance Whiskey is a premium craft whiskey that’s produced in small batches to fully ensure its taste and quality would appeal to consumers’ preferences, particularly African Americans. According to BlackBusiness.com , you can find Guidance Whiskey online for delivery in 43 states as well as on the shelves in stores in Kentucky, Florida, California, Georgia, and Tennessee. Now, with this partnership deal, the products will be on the shelves of 50 more retail locations in five states, which includes 10 stores in Kentucky. Ridgel shares how he had to go through a lot of “nos” before achieving such a big “yes.” “I was told ‘no’ by a bunch of distributors,” he said in an...