TLDR:
– Marcy Venture Partners, founded by Jay-Z, has made a significant investment in ready-to-drink brand The Finnish Long Drink
– The Finnish Long Drink, launched in 2018, has seen explosive growth and is now the fourth most popular RTD brand in the U.S.
On Thursday, Marcy Venture Partners, the capital firm co-founded by Jay-Z and RocNation CEO Jay Brown, announced a “significant investment” in The Finnish Long Drink, a ready-to-drink brand that features a combination of gin, grapefruit juice, and carbonated water. The brand, which includes partners such as actor Miles Teller, DJ Kygo, and professional golfer Rickie Fowler, has seen rapid growth since its launch in 2018.
Despite not disclosing specific investment details, Marcy Venture Partners aims to continue the brand’s momentum within the U.S. market. The Finnish Long Drink has capitalized on the growing interest in spirits-based RTDs and the lack of gin-based alternatives, recording 1.8 million cases in 2023, up from 33,000 in 2019, making it the fourth most popular RTD brand in the U.S.
Miles Teller, a partner in The Finnish Long Drink, expressed his belief in the brand’s quality and authenticity, leading him to increase his investment stake last year. Notably, Jay-Z has a history of successful ventures in the alcohol industry, having sold stakes in Armand de Brignac Champagne and D’USSE Cognac for significant profits.
Overall, Marcy Venture Partners’ investment in The Finnish Long Drink marks a strategic move into the lucrative celebrity-backed cocktail market and leverages the brand’s growing popularity and sales figures.
