Spearhead, a Black-owned, African spirits group, has raised $3 million to push into new markets for its next phase of growth.
Funded by Pendulum, a strategic investment and advisory platform for founders and leaders of colour, the investment follows a strong reception to the brand in European markets.
Founded in the UK and launched in March 2021 by co-founders, Chris Frederick and Damola Timeyin, Spearhead has a growing portfolio of premium brands that include Bayab Gin and Vusa Vodka.
Spearhead’s offering is a line of premium products with true African provenance, chosen to represent the best of the continent’s craft and produce, and capturing the vibrancy and creativity of Africa. The spirits are distilled with local botanicals from across the continent, highlighting the unique flavours of many of Africa’s different terrains and countries.
Chris Frederick, CEO & co-founder said: “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, allow us to show the world what Africans have always known about its culturally and resource-rich continent. These are 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.”