Accelerator · 1 deal
London
Every published round Distill Ventures took part in, and every parcel of existing shares it bought off another holder. Deals we hold but haven't published yet are not counted, and a place in one of its own programs is under Cohorts.
| Company | Stage | Announced | Amount | Role | Alongside | Sources |
|---|---|---|---|---|---|---|
| Starward Whisky | Accelerator | 2015 | - | Lead | thewhiskeywash.com, SmartCompany, australianbartender.com.au, drinksdigest.com, drinkstrade.com.au |
Everyone Distill Ventures has named to a program in published coverage. A place in a program is not a raise: the cheque is the figure recorded with the place, which is the program's standard terms where we hold them, and a blank is one we don't.
| Member | Program | Announced | Cheque | Sources |
|---|---|---|---|---|
| Mr Black | Distill Ventures programme | 2015 | - | drinkstrade.com.au (Tue 27 Jan 2026), drinkstrade.com.au (Fri 30 Sep 2022), thespiritsbusiness.com, diageo.com |
Companies Distill Ventures has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Mr Black | 2015, Accelerator | 1 | 1 | |
| Starward Whisky | 2015, Accelerator | 1 | 1 |
Investors that coverage says has money in a fund Distill Ventures runs. This is a stake in the fund, not in any company the fund has backed.
| Investor | Fund | Sources |
|---|---|---|
| Diageo | - | SmartCompany, globalventuring.com |
Companies Distill Ventures has backed that another company then bought. An exit for the holding, not a deal Distill Ventures did.
Companies Distill Ventures acquired or merged with, per published coverage. Buying a company is not investing in one: nothing here counts in the deals column.
Every investor coverage indicates participated in a round Distill Ventures raised.
| Name | Role | Sources |
|---|---|---|
| Frank Lampen | CEO · Founder | drinkstrade.com.au, diageo.com (Thu 29 Sep 2022), diageo.com (Thu 29 Sep 2022) |
| Heidi Dillon | CEO | diageo.com |
| Scott Rosenbaum | Portfolio Development Director (former) | podtail.se, zeno.fm, podtail.com |
Stories naming Distill Ventures. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
A retrospective on Diageo shutting its craft-investment arm in 2024: 42 roles cut, brands including Camden Town, Little Creatures and Cigar City sold, and what corporate retreat means for independent brewers.
Podcast interview in which Btomorrow Ventures' Karen Xiang discusses the firm's funds, its drinks-sector investing, and how founders should weigh strategic capital.
Also podtail.se
Interview with the investment lead of British American Tobacco's venture arm about corporate venture capital in drinks, its two funds, and the growth platform it offers beverage brands.
David Vitale has bought back his Melbourne whisky company from Diageo, ending the multinational's decade-old minority shareholding taken when Starward joined its startup program in 2015.
Also drinksdigest.com·australianbartender.com.au·SmartCompany
Starward's founder has bought the whisky business back outright, ending a decade of backing from Diageo through the Distill Ventures program, which Diageo began closing last year.
Also drinksdigest.com·australianbartender.com.au·thewhiskeywash.com·glassandnote.com
Founder David Vitale has bought back Starward Whisky, ending Diageo's eleven-year stake held via its Distill Ventures accelerator, which first invested in 2015.
Founder David Vitale has bought back the Starward whisky business outright from Diageo's Distill Ventures, ending their decade-long partnership, as Diageo winds down its early-stage spirits accelerator.
Also australianbartender.com.au·SmartCompany·thewhiskeywash.com
Founder David Vitale has fully bought back Starward Whisky, ending Diageo's eleven-year involvement via its Distill Ventures accelerator, which stopped taking new brands after sales declined in 2025.
Analysis of Diageo's March 2025 withdrawal from accelerator Distill Ventures, where it was sole limited partner, citing strategy changes under new leadership, plus portfolio company Westward Whiskey's bankruptcy.
Diageo is withdrawing from the Distill Ventures accelerator it backed since 2013, after a strategic review of its early-stage venture approach, leaving a smaller team to manage existing investments.
Also globalventuring.com
Diageo has bought non-alcoholic spirits maker Ritual Zero Proof, its earlier portfolio investment, for an undisclosed sum. Co-founder David Crooch becomes general manager of Diageo's non-alcohol unit.
Also globalventuring.com
Techboard's monthly roundup counts 40 Australian startup raises worth $498m in April 2023, headlined by Saluda Medical and Eucalyptus, plus smaller rounds and fund closes by Purpose Ventures and Proto Axiom.
Drinks giant Diageo has bought Australian coffee liqueur maker Mr Black, in which it took a minority stake in 2015 via its Distill Ventures accelerator; no purchase price was disclosed.
Also diageo.com·thespiritsbusiness.com·drinkstrade.com.au·SmartCompany·foodanddrinkbusiness.com.au·thegrocer.co.uk·glassandnote.com·glassandnote.com