BevNET: “New Money: Alethia’s First Fund Targets Bev-Alc”

BevNET by Lukas Southard — October 11, 2023

Alethia Venture Partners’ $50 million Opportunity Fund I made its first investment in May and is focused primarily – but not exclusively – on beverages, with an eye towards taking higher stakes in lower valuation companies funding Seed and Series A rounds.

The fund is managed by Alethia CEO Mike Warren, along with Taylor Foxman, the founder of consulting group Industry Collective. Foxman, also a former Pernod Ricard communications executive, is operating as a general partner and generating deal flow through her connections within the bev-alc industry.

“The alcohol and non-alc category is busy, and there are so many brands out there right now,” Warren said. “We’re looking for not just quality products,” he said, but founders with industry skills that go beyond marketing, such as ingredient sourcing and efficient distribution. Like many venture capitalists, Warren said the firm wants to see a clear growth trajectory and a pathway to profitability when investing, along with the company’s ability to monetize or exit within three to five years.