Siddhi Capital Closes Fund, Plans For SPAC

Last month Melissa Facchina, founder and CEO of outsourced operations firm Siddhi Ops, and the Finn Family, the backers of Martstar investments, announced the close of their first fund under the newly formed firm Siddhi Capital. Facchina will also partner with the father and son duo of Brian Finn (the former CEO of Credit Suisse USA) and Steven Finn to launch a special purpose acquisition company (SPAC) as well.

Austin Cocktails Expands Portfolio Into Canned Cocktails

Family-owned Austin Cocktails is releasing a new line of sparkling, canned cocktails made with premium spirits, natural ingredients and seltzer water. With an ABV of 12.5%, each 8.4 ounce can contains two full cocktails.  

Reveal Showcases Avocado Seeds With Debut Product

As the co-founder and CEO of Philadelphia-based Hidden Gems Beverage Company, Bahirat is aiming to fuse wellness and sustainability with the brand’s debut product: Reveal, a three-SKU line of beverages made from brewed avocado seeds.

People Moves: L.A. Libations Hires Michael White, Promotes Shah and Orr

L.A. Libations Hires Kroger’s Michael White, Promotes Shah and Orr; Jones Soda Appoints Mark Murray as President; Nutrabolt Names New Chief Digital Officer, CMO Exits; Matt Swenson Takes Director of Coffee Role at Nestlé; Vita Coco Names Halima Aden “Chief Coconut Officer” to Support Global Initiative

SPAC Attack: Hollod to Run Tailwind, Advantage to Merge and Go Public

It’s the summer of special purpose acquisition companies (SPACs). Also known as blank check companies, SPACs have increasingly become appealing for the ability to quickly create category leaders and getting capital infusions into brands that need them. The past week has seen two such investment vehicles from industry experts.