Pronghorn has invested in another trio of Black-owned spirits companies, bringing the total to which it has given financial backing to 20, according to Spirits Business.

Backed by Diageo North America, the spirits fund recently invested in Acquired Taste Cognac, New England Sweetwater Farm & Distillery and Rally Gin.

“As a female executive myself, I couldn’t be more proud to represent a company that advocates for minorities in the spirits industry,” Conley Fitzpatrick, head of trade marketing for Pronghorn, said. “More and more women are creating brands that speak to what we are looking for in spirits, and Pronghorn is committed to supporting their innovation and leadership in the industry.”

Nine Black women owners represent 36 per cent of Pronghorn’s portfolio, according to Spirits Business.

Acquired Taste Cognac is owned and operated by spirits company Mingo Imports in New York. The family-run company was founded to educate people about the value of minority equity and ownership.

Sisters Alisa Lawrence and Nilaja Young and their spouses oversee New England Sweetwater Farm & Distillery. The business manufactures moonshine, vodka, gin, whiskey, rum, and ready-to-serve drinks.

“We are committed to celebrating and advocating for Black women in the industry, and we feel like Pronghorn is the best partner to align with that mission,” Young told Spirits Business.

Rally Gin was created by Missouri-based Decoy Beverage Co., founded in 2020 by childhood friends Desmond Carr, Tim McCoy and Alysha Daicy.

The new investments follow Pronghorn’s celebration of its first anniversary in June. Pronghorn has raised more than $200 million to support Black entrepreneurs and executives in the industry.