Constellation To Invest $100 million In Women’s StartupsDecember 7, 2018
Constellation Brands has pledged to invest $100 million over the next decade in businesses founded or run by women. The company’s venture capital unit, Constellation Brands Ventures, has completed initial investments in two companies—Austin Cocktails and Vivify Beverages—through the program, called Focus On Female Founders.
“Women are an underrepresented demographic in the beverage alcohol industry and we are committed to doing our part to help change this,” said Bill Newlands, Constellation’s incoming CEO.
Austin Cocktails, founded by sisters Jill Burns and Kelly Gasink, offers bottled cocktails like Cucumber Vodka Mojito, Ruby Red Cocktail, and more. Vivify, known for its Bravazzi Hard Italian Soda and Itz Spritz offerings, was founded by Sarah Ross, Anne Ellis, and Bob Walkenhorst. Terms for the deals have not been disclosed. Constellation Brands Ventures will continue the effort through 2028.—Shane EnglishSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.