Diageo will no longer introduce new brands into its venture program managed by Distill Ventures. The decision follows a strategic review of the company’s early-stage investment approach. The move reflects a shift in Diageo’s focus within its venture initiatives.
Distill Ventures is investing an extra **$5 million** to support drinks entrepreneurs from underrepresented backgrounds. The venture arm expands its **Pre-Accelerator program**, scaling operations into 2023 after a successful first year. The initiative targets founders in the beverage industry who face systemic barriers in funding and opportunity.
Distill Ventures, backed by Diageo, invests in **Jackson McCrea whiskey** and **Ume Plum Liqueur**, two emerging US spirits brands. The accelerator expands its portfolio with these new additions, continuing its focus on supporting early-stage alcohol producers. Diageo remains the sole investor in the venture.
Feb 2024Just DrinksNews article
Distill Ventures
Distill Ventures is a drinks brand support firm that supports spirits and non-alcoholic spirits brands to scale and exit.
