Pronghorn has announced its third round of investments in four Black-owned spirits companies.

Greenwood Whiskey, Red Hazel Whiskey, TCapri Tequila, and IslandJon Vodka received an unspecified amount, but the funding is part of a $2.4 billion plan over 10 years to invest in Black founders.

“Pronghorn continues to disrupt the fundamental relationship between venture capital and Black entrepreneurs,” CEO and managing director Jomaree Pinkard said in a statement. “This cohort of innovative and award-winning founders is an exciting next chapter in our mission, and all share the type of dynamic brand and product narrative essential to succeed in today's crowded marketplace. We are thrilled to welcome these brilliant founders to the Pronghorn family and can't wait for them to be able to tap into the full weight and force of our support infrastructure as they scale their businesses.”

The investment firm plans to invest in 57 Black-owned and Black-led spirits brands over the next 10 years. So far, they’ve reached 13 brands.

Greenwood Whiskey, inspired by the legacy of “Black Wall Street,” pays homage to Tulsa, Oklahoma’s Greenwood district. The neighbourhood saw the growth of 600 Black-owned businesses before it was burned down by a racist white mob in 1921.

Red Hazel Whiskey, a Black-owned rye brand, is available in over 20 states. Founder TK Burtin-Johnson founded the company in 2020.

TCapri Tequila, the first sole Black woman-owned tequila brand, offers different spirits and is produced by a family owned distillery in Jalisco, Mexico.

IslandJon Vodka, founded by a father-son team, Levi and Kevin John, also received an investment.

To date, Pronghorn has invested in 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, Hella Cocktail Co., Tequila With Friends, Common Ground Spirits, Delta Dirt Distillery, Anteel Tequila, and Old Hillside Bourbon Company, according to a statement.