Black-owned LS Cream receives investment
LS Cream, the ‘first’ Black-owned cream liqueur, has secured investment from Fearless Fund at a valuation of US$10 million.
Inspired by the traditional Haitian drink cremas, LS Cream Liqueur was created with the aim of introducing a new generation of drinkers to the ‘luxury and versatility of cream liqueurs’.
The liqueur is a blend of fresh cream, neutral grain spirit, coconut, vanilla, cinnamon and nutmeg. It is gluten-free, low in lactose, and made with ‘all-natural’ ingredients.
The brand was founded by Myriam Jean-Baptiste and Stevens Charles, who are both of Haitian descent.
Jean-Baptise said the funding would allow the company to scale its business, increase its US distribution footprint and expand its presence in current markets.
Fearless Fund is a venture capital fund dedicated to supporting women of colour entrepreneurs. It has invested in LS Cream at a valuation of US$10 million.
Jean-Baptiste said the wine and spirits sector is “overwhelmingly male-dominated” with women of colour “significantly underrepresented”.
Arian Simone, co-founder of Fearless Fund, added: “We are always looking for trailblazing women of colour who are pushing the boundaries in their respective fields, and LS Cream is a perfect example of that.”
In March this year, Diageo-backed incubator Pronghorn invested in four Black-owned spirits brands, including American rye whiskey Greenwood.
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