The first two companies slated to receive investments are:
Equiano, a London-based Afro-Caribbean rum brand founded by Ian Burrell and Aaisha Dadral and named in honor of writer and abolitionist Olaudah Equiano, who was enslaved at 11 years old and later bought his freedom using money he earned trading rum.
Jack From Brooklyn, Inc., the first-known Black-owned distillery in the country following Prohibition.
The fund is now accepting applications on its website. One day, someone would be willing to invest in it and in me
Jack From Brooklyn, Inc., founded by Jackie Summers, is the maker of Sorel Liqueur, a traditional Caribbean liqueur blending flavors of hibiscus, cloves, ginger, nutmeg and cinnamon. Sorel will make its comeback to the spirits market this year thanks to Uncle Nearest Venture Fund s investment.
Uncle Nearest pledges $50m to minority-owned brands 2nd June, 2021 by Melita Kiely
American whiskey brand Uncle Nearest has launched a US$50 million fund to support minority-owned spirits brands, and create a ‘Black Wall Street’ within the industry.
Fawn Weaver, CEO and founder of Uncle Nearest Premium Whiskey
The Uncle Nearest Venture Fund launched to coincide with the 100th anniversary of the destruction of Black Wall Street, according to Fawn Weaver, founder and CEO of Uncle Nearest. The fund will also support minority-founded firms.
Weaver said: “On 1 June 1921, an entire community of wealthy and successful African Americans was wiped out in a matter of hours. We are talking about 35 square blocks known as Black Wall Street.