Diageo-aligned accelerator Distill Ventures (DV) has named Heidi Dillon as CEO, assuming the role from co-founder Frank Lampen. Lampen will transition to the role of founder and chair, according to a press release.
Dillon joined the London-based firm in 2018 to oversee its U.S. business, first as portfolio director of its non-alcoholic drinks practice – helping to grow brands like Seedlip and Ritual Zero Proof – before becoming managing director of North America in 2020.
In addition to her work on the non-alcoholic spirits category, Dillon has also focused on supporting minority and female entrepreneurs. In 2021 she launched DV’s Pre-Accelerator program with the goal of connecting founders from “historically underrepresented communities” to seed financing. That emphasis on supporting underserved groups will continue in her role as CEO, Dillon said.
“As CEO and together with the team, we will strengthen our commitment to elevating diversity and gender representation,” she said in the release. “Putting the changing consumer at the heart of all of our thinking enables continued innovation and transforms the way we interact with the spirits industry, driving the next decade of growth.”
Last month, the Pre-Accelerator program announced five new brands that will join its Spring cohort: tequila brand CASA J, tequila cocktail maker Pimentae, Black-owned flavored tequila company Idle Hands, pre-launch American Whiskey company Lodestar and woman-owned low ABV spirits producer Tanica.
DV was founded by Lampen, Shilen Patel and Dan Gasper in 2013 and has facilitated five acquisitions by Diageo, including Seedlip, cold brew coffee liqueur Mr Black, Japanese rice whisky Kikori and vermouth brand Belsazar. The firm has operations across the U.S., Europe, Australia and Japan and its current portfolio includes brands such as Kanosuke, Stauning Whisky and The Oxford Artisan Distillery.
“An enormous part of DV’s success comes from the founders, and we’re privileged to have had such amazing entrepreneurs trust us to help build their brands,” Lampen said in the release. “Diageo has also been a vital partner – they are uniquely placed to understand opportunities within the global drinks market and have proven their willingness to embrace innovation and new ways of thinking.”
“DV has become an integral part of Diageo’s acquisition and growth strategy, and under Heidi’s leadership I’ve no doubt that we’ll continue to build the next generation of iconic brands together,” added Eugene Khabensky, Diageo VP of Global Ventures. “Frank’s leadership and contribution to DV and Diageo has been immense in helping DV become what it is today – an industry-leading accelerator programme. I’m incredibly proud of what our collaboration has been able to accomplish over the last ten years, and I’m excited to see what we can achieve in the next ten.”
Last year, Gasper – who left the firm in 2018 – launched an independent drinks accelerator similarly focused on low- and no-alcoholic beverages called The Ardent Company. The venture will seek investment opportunities between $2 million and $20 million.