Private equity fund for craft spirits opens

A new private equity fund for start-up craft spirits brands has launched in the US and is expected to reach approximately US$50 million in assets.

A new private equity find for craft spirits estimates it will reach US$50m in assets

Opened by Chicago-based consultancy firm Thoroughbred Spirits Group (TSG) and Thoroughbred Spirits Partners, the fund will aid companies it invests in through marketing, branding, distribution and finance modeling.

“The reception we’ve received leading up to this launch has been incredible,” said fund president Scott Schiller, who is also managing director of TSG and a 5th generation distiller.

“What makes this fund unique from others stems from our deep knowledge and experience in the space, our extensive contacts in the industry, including both craft brands and multinationals, and our strong relationship with so many distillers around the globe.

“For the last several years, we’ve been working with many of the best-positioned craft distillers in the country. The opportunities in craft spirits are plentiful, as many have seen with recent acquisitions in both the Bourbon and vodka categories, and we are uniquely poised to execute.”

Based in Dallas, Texas, Thoroughbred Spirits Partners Fund allows start-ups to acquire capital, and also gives investors private access to the spirits market.

“Traditionally, investors have had two routes to brand ownership; through the capital markets or to invest in a singular brand or distillery,” said David Large, founder of the fund and strategy and brand development director at TSG.

“Our fund offers broader ownership in the segment and acts as a catalyst by providing both funding and intellectual capital to carefully selected spirit brands thereby maximising the value of portfolio companies.

“While we began discussing the idea of a fund over a year ago, we recently added an experienced fund operator to the team, and we are now ready for launch.”

Leo Isaak has joined Thoroughbred Spirits Partners Fund from Axios Capital Advisors.