Spearhead, the Award-Winning, Black-Owned African Spirits Group Secures $3 Million Investment from PENDULUM®, Marking its Entry into the US Market
Spearhead, the Black-owned, African spirits group, today announced it has raised $3 million. Funded by Pendulum, a strategic investment and advisory platform for founders and leaders of color, the investment marks the group's entry into the US and will further power the company's next phase of growth. Following a strong reception to the award-winning brand in European markets, the funding will allow Spearhead to accelerate its global reach, introduce new product lines and scale marketing efforts.
Launched in March 2021 by co-founders, Chris Frederick and Damola Timeyin, Spearhead is a multi-award-winning business with a growing portfolio of premium brands that include Bayab Gin and Vusa Vodka. After noticing a lack of diverse representation in the spirits category, as well as a beverage that highlights Africa's heritage and the quality and craft of the continent, Spearhead was born.
The essence of Spearhead's offering is a line of premium products with true African provenance, representing the best of the continent's craft and produce, that capture the vibrancy and creativity found in all corners of Africa. The spirits are distilled with bountiful local botanicals from across the continent, highlighting unique flavours of many of Africa's different terrains and countries.
Chris Frederick, CEO & Co-Founder: "With a lack of Black-owned African Spirits brands exported globally, we have made it our mission to connect the world to Africa through our spirits. Our brands not only increase diversity and challenge cultural bias in the sector, but being produced on the African continent allows us to show the world what Africans have always known about its culturally and resource rich continent, with products that compete on the world stage in taste and quality, as well as innovation. Pendulum's investment will allow us to realise this vision globally; we are beyond excited about the partnership and their belief in this mission and the power of the African continent."
Spearhead will also be joined by a group of strategic partners, including Kenny Burns, lifestyle specialist and long-time spirits industry executive with prior roles at CIROC and Grey Goose and equity stakes in Uncle Nearest and most recently Spearhead, and Donae Burston, founder and CEO of La Fete du Rose, the first entirely Black-owned rosé brand from St. Tropez, France.
Robbie Robinson, Co-Founder and CEO, and Helen Wang, Senior Associate of Pendulum: "The celebration of the African diaspora is alive and well in the U.S., and we believe this authentic enthusiasm translates meaningfully to the spirits category, where community and storytelling are central to any brand. We couldn't be more excited to work with Spearhead and its founders, Chris and Damola, to amplify the story of a truly differentiated platform that aims to embody and honor the diaspora. With this investment, we're also thrilled to partner with Kenny Burns and Donae Burston, long-time industry veterans, to propel Spearhead's growth and launch into the U.S. market."
With 35,000 units sold since launch to market in 2021, Spearhead is a pioneering, Black-owned African spirits company with its global reach. Spearhead has amassed accolades and on-trade accounts from London to New York, with a pipeline of new launches to come, including a much-anticipated rum and limited-edition flavoured lines, later this year.
Spearhead aims to continue to turn the dial towards fairer representation in the drinks market and redefine the industry for good. The group will also continue its investment in community development across South Africa. In partnership with the organisation uMthombo, Spearhead will use this funding to help uMthombo get young people off the streets and provide them with life-skills training and a pathway to employment.
About Spearhead's Brands
Bayab Gin - Premium copper distilled gin from Africa. Distilled using Zambian Baobab from the Baobab ?tree of life' and bountiful African botanicals of juniper berries, coriander, rosemary, cinnamon, coarse salt, lemon peel, baobab and orange peel, it is then blended with the purest water, sourced from the Midlands Kwazulu-Natal. Bayab Gin is available to purchase from Reserve Bar and Wine.com
Vusa Vodka - Premium copper distilled cane vodka from Africa. Distilled in small batches using a copper still gives it a silky smooth finish of exceptional quality. Vusa uses the sugarcane that grows naturally in the Kwazulu-natal subtropical climate making it a naturally sweet-tasting vodka and its unique filtration process uses the shells of the Baobab fruit to contribute to its crisp finish. Ideal for cocktails. Vusa Vodka is available to purchase from Reserve Bar and Wine.com
Awards to Date
Bayab: Gold at San Francisco Wine and Spirits competition 2022; Silver at San Francisco Wine and Spirits competition 2021
Vusa: Gold at San Francisco Wine and Spirits Competition 2021; Silver at the International Wine and Spirits Competition 2020. Rated Best Vodka by Good Housekeeping 2022.
For more on Spearhead, visit:
Web. spearheadspirits.com, Vusavodka.com and Bayabgin.com
Instagram: www.instagram.com/BayabGin www.instagram.com/VusaVodka instagram.com/Damola_t
Twitter: twitter.com/vusavodka Twitter.com/bayabgin
About Pendulum
Pendulum is a strategic investment and advisory platform. Founded in 2019 by D'Rita and Robbie Robinson, Pendulum reimagines how great companies and brands are built?and who gets to build them. Through its investment arm, Pendulum Opportunities, and strategic advising arm, Pendulum Partners, the firm seeks to accelerate opportunity and value creation for founders and leaders of color. Pendulum Opportunities invests in high-growth businesses meeting the changing demands of the future, values-driven consumer. For more information, visit pendulumholdings.com.
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