Constellation Brands Puts its Women-Led Startup Fund to Work with Investment Montanya Distillers
In December 2018 Constellation Brands announced that Constellation Brands Ventures would invest $100 million in female-founded or female-led businesses in the beverage alcohol space by 2028. This month they made another addition to the growing female led portfolio with a minority investment in Montanya Distillers located in Crested Butte, Colorado.
Montanya Distillers is led by President and CEO Karen Hoskin. The distillery was Co-founded in 2008 by Karen and Brice Hoskin. At more than 10+ years old that’s down right mature in craft spirits! The multifaceted operation offers tours, tastings, live music, artisan cocktails, made-from-scratch cuisine and of course their own family of rums. The entire distillation process happens on site including fermenting, distilling, aging, bottling, packaging, and shipping.
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“We are so fortunate to have Constellation as a strategic partner,” said Karen Hoskin. “The company will provide much-needed investment capital straight into the business, allowing us to increase production and expand distribution. We’ll also benefit from Constellation’s wisdom and expertise in areas that have always vexed us, like sales and distribution.”
Hoskin will continue to manage, produce, market and sell its high-performing, award-winning rums. The company sells its Montanya Platino, Montanya Oro, and Montanya Exclusiva in over 40 states and 7 countries overseas and can be purchased online.
Terms of the Constellation Brands and Montanya Distillers transaction were not disclosed.
Women-Led Businesses Generate 2x Revenue/Dollar
According to data gathered by Constellation Brands, women-led businesses are the fastest growing segment of entrepreneurship in the U.S. and generate two times the revenue per dollar versus the average non-women-owned businesses, yet only two percent of venture capital funding went to female-led companies in 2017.
The study by Boston Consulting Group showed women led companies saw a gender investment gap. In a review of five years of investment and revenue data, the gender-focused analysis showed a clear funding gap (see data below.)