Shinju Spirits Secures Investment from Pronghorn
Earlier this week, Shinju Spirits announced that Pronghorn Investment Management had invested in Shinju Japanese Whisky. This partnership has become the first Japanese whisky brand to join the portfolio of the firm.
As a non-profit, Pronghorn provides economic and career development resources for Black-owned and -founded companies within the spirits industry. Its long-term vision is to create a model to diversify industries that have been underrepresented.
Pronghorn received US$100 million in funding from spirits giant Diageo in 2021. The distillery offered the funding under a ten-year performance plan. The new capital investment will allow Shinju Spirits to expand its production capacity, introduce new product offerings, and expand its US market reach.
Shinju Spirits Secures Investment from Pronghorn
He said: “This investment represents a significant endorsement of our vision and capabilities, and it will provide us with the resources and expertise needed to achieve our ambitious growth objectives. We are excited about the possibilities that lie ahead and the opportunity to collaborate with Pronghorn to elevate Shinju Japanese Whisky to new heights of success.”
As a new strategic partner and investor, Pronghorn will support Shinju Spirits with its marketing efforts and portfolio expansion. Launched in 2019, Shinju Spirits is currently available in the US, UK, and EU.
According to an article on Adweek, Pronghorn was created by four whisky enthusiasts. The post said:
”Pronghorn was co-founded by Dia Simms—chairwoman of Lobos 1707 Tequila & Mezcal (whose investors include LeBron James) and former president of Combs Enterprises (the business and investment company of rapper Sean Combs)—alongside fellow industry pros Erin Harris and Dan Sanborn.”
A summary on Pronghorn,s website goes into more detail: Pronghorn is investing capital in Black-owned brands spirits, which allows Black entrepreneurs to grow and sustain their businesses. (The company) is creating opportunities for the Black community, from internships to mentorships to careers, ranging from entry to executive level.
