Pronghorn, a platform dedicated to reshaping industries by fostering diversity and inclusion, has announced its selection of the New England Barrel Company (NEBCo) for its next seed investment.
NEBCo, a Black-owned brand, has gained recognition for its exquisite range of spirits, celebrated for their rich flavor profiles and inviting finishes. The brand has earned acclaim from critics nationwide and offers a diverse selection of small-batch bourbons, along with limited, single-barrel releases sourced from distilleries of varying sizes across the United States.
James Saunders, the Founder of New England Barrel Company, stated, “At its core, New England Barrel Company is about building a community through a shared appreciation for exceptional whiskey. Our daily mission is to create and distribute exceptional batched and single-barrel releases that are not only outstanding but also affordable, making them accessible to the public.”
The announcement coincides with NEBCo’s recent recognition at the New York Spirits Competition, where their single barrel Select 5-Year Bourbon was named the “Best Single Barrel Bourbon up to 10 Years.” This accolade solidifies the brand’s position as a global leader in the whiskey industry. Pronghorn’s investment in NEBCo represents another stride towards its overarching objective of investing in 57 Black-owned spirits brands, aiming to generate $2.4 billion in economic value for the Black community by 2032.
Earlier this year, Pronghorn secured $200 million in funding to support 19 Black-owned businesses and launched various initiatives to empower Black men and women in the spirits industry, including the HBCU Innovation Lab and the Pronghorn Spirits Academy.
In August, Pronghorn announced its fourth round of angel investments in three spirits brands: Abisola Whiskey, Los Hermanos Tequila 1978, and Alexander James Whiskey. These investments celebrated the rise of Black entrepreneurs in burgeoning industries across the United States, marking Black Business Month.
Pronghorn CEO and Managing Director, Jomaree Pinkard, expressed enthusiasm, saying, “It’s remarkable to witness the continued expansion of the Pronghorn family. We are excited to partner with the New England Barrel Company to further accelerate their growth. Pronghorn’s capital investments and empowerment programs continue to enhance our unique approach, enabling any company to promote diversity effectively within historically underrepresented communities across various industries.”