By: Delta Dirt Distillery
ATLANTA, Feb. 21, 2023 /PRNewswire/ -- This week, 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 Company.
Pronghorn's capital investment in these brands will be supplemented with access to Pronghorn's supercharging program, efforts from the company to accelerate the business growth of each brand beyond investment. These brands are 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.
"It's an exciting time at Pronghorn," said CEO and Managing Director, Jomaree Pinkard. "We are starting off the year strong ahead of schedule of our 10-year goal and are now welcoming an additional four companies that are led by these successful Black entrepreneurs into our network."
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 explosive 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.
To learn more about Pronghorn's accelerator program for Black entrepreneurs in the spirits industry, visit www.pronghorn.co/services.