# #155 - The Beverage Investors: Salle Jian, Alex Malamatinas, Brandon Yahn and Connor McKenna

- Show: [The Startup CPG Podcast](https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast)
- Published: 2024-08-06
- Length: 55m
- Episode: 64
- Page: https://hardwarepodcasts.com/podcast/the-startup-cpg-podcast/2024-08-06-155-the-beverage-investors-salle-jian-alex-malamatinas-brandon-yahn-and-connor-m
- Listen: https://share.transistor.fm/s/23b74edf

## Summary

Salle Jian of Diageo Ventures, Alex Malamatinas of Melitas Ventures, Brandon Yahn of Pernod Ricard’s Convivialité Ventures, and Connor McKenna of Pronghorn discuss investment trends in the non-alcoholic and low-alcohol beverage market. The panelists highlight the shift among Gen Z and millennials toward abstaining or drinking less, driving demand for functional drinks, gut health sodas, and premium mocktails. They share criteria for evaluating founders, emphasizing traction, healthy gross margins, authentic storytelling, and the importance of warm introductions over cold outreach. The episode concludes with rapid-fire pitches from founders of brands like Liquid Death, Kin Euphorics, and emerging startups seeking capital.

## Outline

1. Introduction to the Beverage Investor Panel
2. Investment Theses and Trends: Non-Alcoholic and Functional Drinks
3. How to Get on Investor Radar: Warm Intros and Research
4. What Investors Look For: Traction, Margins, and Founder Story
5. Founder Pitches and Investor Feedback

## Topics

- [Fundraising & investors](https://hardwarepodcasts.com/topic/fundraising)
- [Marketing & brand](https://hardwarepodcasts.com/topic/marketing-and-brand)
- [Validation & product-market fit](https://hardwarepodcasts.com/topic/validation-and-product-market-fit)
- [Pricing, margins & unit economics](https://hardwarepodcasts.com/topic/pricing-and-unit-economics)
- [Sustainability & circular products](https://hardwarepodcasts.com/topic/sustainability-and-circularity)

## Most relevant to

large enterprises, early-stage companies

## Mentioned

- Diageo Ventures (company)
- Melitas Ventures (company)
- Convivialité Ventures (company)
- Pronghorn (company)
- Seedlip (product)
- Kin Euphorics (product)
- Liquid Death (product)
- Ritual Zero Proof (product)
- Olipop (product)
- Sanzo (product)
- Distill Ventures (company)
- Pernod Ricard (company)

## Related episodes from other shows

- [Advice Line with Travis Boersma of Dutch Bros](https://hardwarepodcasts.com/podcast/how-i-built-this/2025-02-13-advice-line-with-travis-boersma-of-dutch-bros) (How I Built This)
- [Advice Line with Steve Ells of Chipotle](https://hardwarepodcasts.com/podcast/how-i-built-this/2026-04-09-advice-line-with-steve-ells-of-chipotle) (How I Built This)
- [Brewing creativity with Jim Koch of Boston Beer Company](https://hardwarepodcasts.com/podcast/how-i-built-this/2024-01-25-brewing-creativity-with-jim-koch-of-boston-beer-company) (How I Built This)
- [Advice Line with Eric Ryan of Method returns](https://hardwarepodcasts.com/podcast/how-i-built-this/2026-04-23-advice-line-with-eric-ryan-of-method-returns) (How I Built This)
- [259 - It's definitely NOT beer with Not Beer founder Dillon Dandurand](https://hardwarepodcasts.com/podcast/people-of-packaging/2024-05-01-259-its-definitely-not-beer-with-not-beer-founder-dillon-dandurand) (People of Packaging)

## Citing this page

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