Globally-recognised, top-selling, and Black-owned premium spirits brand, Uncle Nearest Inc., is close to reaching unicorn status, with a valuation nearing $900 million.
Despite the odds, Uncle Nearest has flourished under the leadership of founder Fawn Weaver, expanding its presence to over 30,000 stores, bars, hotels, and restaurants across 12 countries.
The business now has a 432-acre distillery in Shelbyville, Tennessee, and a newly acquired 100-acre property in Cognac, France, which testify to the brand’s ambition.
Weaver’s approach to funding has been crucial to the success of Uncle Nearest. By avoiding traditional venture capital and private equity routes, she still secured $220 million through a coalition of individual accredited investors.
Her first investor, the influential political strategist Michael Berman, began a chain of investments from notable figures like Craig Leipold, Steve Mosko, and Jesse Burwell.
ABOUT
Black and woman-owned distillery Uncle Nearest Premium Whiskey was launched in 2016 by Fawn Weaver. The rise of Uncle Nearest is a tribute to Nearest Green (the first-known African American master distiller), and to the resilience and the vision of Fawn Weaver, who navigated the brand through an industry where only 0.48% of all venture dollars went to Black founders in 2023.