CAVU Venture Partners Raises $156 Million
CAVU Venture Partners, the investment firm from Deep Eddy Vodka co-founder Clayton Christopher, former Vitaminwater CMO Rohan Oza, and former managing partner at Thematic Capital Partners Brett Thomas, has raised $156 million for its debut fund. Fortune profiled the raise, which included contributions from several former investors of Christopher’s Deep Eddy Vodka and Sweet Leaf Tea Co. The fund will invest in both mature existing food and beverage companies like Bai and premium pet food brand Nulo as well as in-house CAVU startups, the first of which will be Mighty Swell, which Christopher described to Fortune as an “all-natural fresh juice-based sparkling cocktail in a can.”
Two Teens Dead After Drinking “Dewshine”
Two Tennessee teenagers have died after allegedly drinking “Dewshine”, a concoction of Mountain Dew and methanol racing fuel. CNN says the two teens were in a group of four friends who consumed the lethal cocktail at a party. The other two boys have since been released from the hospital. Dr. Donna Seger, executive director of the Tennessee Poison Center called the incident “an unfortunate accident.” In 2015 Mountain Dew introduced its own (harmless) Dewshine, a soda offering made with real sugar.
Pepsi to Open Kola House
Pepsi is getting into the restaurant business. The New York Times is reporting that the soda giant is in the process of renovating a 5,000 square-foot space in Manhattan’s Meatpacking District that will open its doors this spring. “Kola House” will be a restaurant, bar and live entertainment space, while serving as a subtle marketing site for Pepsi. Kola House’s overarching theme will be the kola nut, the ingredient from which cola beverages are derived. Seth Kaufman, PepsiCo’s CMO for beverages in North America, said the restaurant will provide “a premium experience,” which the company hopes patrons will then share on social media.
Is matcha mania already behind us? Bloomberg Businessweek contributor Kayleen Schaefer certainly seems to think so. In a piece published earlier this week, Schaefer named “Dandelion coffee” the cafe drink du jour. A powdered blend of dandelion root, barley, rye, chicory and beets that gets mixed with hot water or milk, the beverage has apparently caught on in cafes in cities like Los Angeles, Chicago and Austin. Though not actually coffee, the beverage has been likened to a shot of espresso for the alertness that results from the vitamin B in dandelion root. It’s also reportedly rich in minerals zinc, potassium and iron.
Bai Readies For Game Day
The Carolina Panthers and Denver Broncos aren’t the only ones preparing for their big moment under the bright lights at Super Bowl 50. Coffee fruit beverage brand Bai will also have its most high profile appearance to date with a 30-second TV spot during the February 7 telecast. AdWeek spoke with the company’s chief creative officer Chad Portas who said the commercial will give viewers “a glimpse into what we make and why our products are truly different.”
Golazo Files For Bankruptcy
Seattle-based sports energy drink brand Golazo filed for Chapter 7 bankruptcy at the end of 2015. The Seattle Sun Times reported that thousands of cases of the beverage, along with other company property, are scheduled to be auctioned off by James G. Murphy Co., a commercial and industrial auction company based out of Kenmore, Washington. Earlier this week BevNET reported on why the company closed its doors.