Constellation Brands’ venture capital group is putting its weight behind female-founded and female-owned alcohol businesses by investing $100 million by 2028, the company announced Thursday.
The investment would come through the Victor-based company’s Focus on Female Founders program, which supports emerging brands in, or adjacent to, the beverage alcohol space.
Constellation’s first two investments went to Austin Cocktails, an Austin, Texas-based bottled cocktail company owned by two sisters, and Vivify Beverages, which sells premium alcoholic beverages that serve as “better for you” alternatives to common alcohol products, according to a Constellation news release.
Women-led businesses in the U.S. have increased by 58 percent since 2007, and total revenue from these businesses shot up by 46 percent in the same period, according to a 2018 American Express report on the state of women-owned enterprises.
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