Connect with us

CELEBRITY

Jay-Z’s Venture Capital Firm Announces ‘Significant Investment’ in Miles Teller’s The Finnish Long Drink Brand

Published

on

Marcy Venture Partners, the capital firm founded by Jay-Z and RocNation CEO Jay Brown, is getting in on the lucrative celebrity-backed cocktail market.

On Thursday, the company announced a “significant investment” in ready-to-drink brand The Finnish Long Drink, which counts actor Miles Teller, DJ Kygo and professional golfer Rickie Fowler as partners. Launched in 2018, the brand’s combination of gin, grapefruit juice and carbonated water has quickly established it as a best-seller across the globe.

Marcy Venture has not disclosed the specifics of its investment, saying only that it hopes to propel “continued momentum within the U.S. market.”

The brand’s explosive growth has capitalized on increasing interest in spirits-based RTDs and a lack of gin-based alternatives. Finnish Long Drink recorded 1.8 million cases in 2023, up from 33,000 in 2019. According to the drink’s producer, it’s currently the fourth most popular RTD brand in the U.S.

Promising sales figures led “Top Gun” star Miles Teller to increase his investment stake at the beginning of last year.

“I became an investor in The Finnish Long Drink because I think it’s the best in the market and has an authentic backstory,” Teller shared at the time. “It’s high quality stuff and I think consumers deserve a product that’s this good and refreshing. Now that we are available in over 34,000 locations and most major chains, I wanted to lead an investment that will further our growth, help us advertise nationally, and get the word out about The Finnish Long Drink – the best canned beverage in the game.”

Jay-Z is no stranger to the booze business himself, making a large chunk of his $2.5 billion net worth off of successful alcohol sales.

In 2021, the rapper-turned-business mogul sold his 50% stake in Armand de Brignac Champagne for an estimated $315 million. He inked a similar deal two years later when he sold his controlling interest in D’USSE Cognac to Bacardi for $750 million.

Despite a winning liquor streak, Marcy Venture Partners has shied away from alcohol ventures up until now. The company’s portfolio includes Rihanna’s Savage X Fenty, streetwear marketplace StockX, Merit Beauty and the robot-powered Stellar Pizza.

Join the Whiskey Raiders Bottle of the Month Club, where you will receive hard-to-find bottles curated by Whiskey Raiders staff with a 90+ rating on whiskeyraiders.com plus live virtual tastings. Sign up here!

This post may contain affiliate links, so we may earn a small commission when you make a purchase through links on our site. This helps support Bottle Raiders at no additional cost to you.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

CELEBRITY3 days ago

Kate Middleton quits playing Prince Harry peacemaker, ‘finally threw up her hands in disgust’: expert

CELEBRITY3 days ago

Will Smith to reunite with wife after long separation… full story below 👇👇👇

CELEBRITY3 days ago

Kanye West, Bianca Censori headed for divorce after nearly 2 years of marriage

CELEBRITY3 days ago

Fans shocked by ‘nasty’ insult to Taylor Swift, Steve Harvey indirectly INSULTING Taylor Swift and said she was not a ‘good singer’.

CELEBRITY4 days ago

The Tragedy of King Charles: King Charles delivers heartbreaking news following his reunion with Prince Harry, saying, “My son is no longer with us…” See more below 👇👇👇

CELEBRITY4 days ago

WATCH: Tаylor Swіft Cheerѕ Trаvіѕ Kelce аt Chіefѕ Gаme After Hіѕ 35th Bіrthdаy Wіth Clаѕѕіc Fаll Plаіd Set Wіth Sky-Hіgh Bootѕ… full story below👇👇👇

CELEBRITY4 days ago

Beatrice and Eugenie ‘want to believe’ Prince Andrew as they beg King Charles to forgive brotherPrincesses Beatrice and Eugenie are desperately trying to convince King Charles to ‘forgive’ their father Prince Andrew. The pair are said to have accepted the Duke of York’s version of events in relation to his friendship with Jeffrey Epstein and accusations of sexual assault.And they want Charles to put any animosity to one side for the sake of The Firm, according to reports. It comes with the monarch and his brother feuding over the future of Royal Lodge, the home Andrew shares with ex-wife Sarah Ferguson.Charles is keen for the disgraced Duke to move somewhere smaller. But Beatrice, 26, and Eugenie, 43, hope that argument can be put to one side.A pal told In Touch: “The two princesses have spoken to their uncle, asking him to forgive Andrew and for the two brothers to mend fences. But it remains to be seen if their requests have been heardBeatrice and Eugenie love their father and of course want to believe him. They don’t want him to have to leave his home, a place where they all shared so many happy times.

CELEBRITY5 days ago

King Charles to ‘pause’ cancer treatment for Australian tour

CELEBRITY5 days ago

Taylor Swift overtakes Rihanna to become world’s richest female musician

CELEBRITY5 days ago

Why Taylor Swift Skipped Travis Kelce’s Birthday Over the Weekend

CELEBRITY5 days ago

Taylor Swift celebrated Travis Kelce’s 35th birthday with a big announcement… Full story here 👇

CELEBRITY5 days ago

Billy Joel and family attend Taylor Swift’s Cardiff stop on The Eras tour! SPECIAL MEET-UP REVEALED

Copyright © 2024 UKfoxnews