Eleven years after investing in SpaceX, Founders Fund is betting on something more down to earth: canned rosé wine.
The venture capital firm recently led a $7 million seed round investment in Bev, a female-led direct to consumer rosé brand. It’s the Founders Fund’s first alcohol investment.
While going to Mars and swirling rosé might seem like incongruous missions, Founders Fund COO Lauren Gross tells Business Insider that the firm’s investment strategy comes down to betting on entrepreneurs with the right stuff to disrupt an industry.
“Some of our more compelling successful bets started with young ambitious founders,” Gross said. And Bev founder Alix Peabody checked all the boxes, she said.
“We at Founders Fund pride ourselves in being intellectually honest and open to all founders in all sectors, and in this case, Alix was creating a powerful female-focused brand in a space that hasn’t seen as many.”
Peabody, 28, didn’t have a background in the booze business when she started Bev in 2017. After emergency surgeries left her unable to start a headhunting job and shouldering expensive medical bills, Peabody started a side business throwing day parties (dubbed “day-gers,” according to Peabody) in Sonoma.
She realized the alcohol brands