- Crystal Palace footballer Eberechi Eze has also become an investor in Virtue
A fast-growing energy drinks brand has appointed BrewDog co-founder James Watt as a ‘strategic advisor’ after receiving investment from the Scottish entrepreneur.
Virtue Drinks revealed Watt, who quit as the brewer’s chief executive earlier this year, was an angel investor in its recent £2million fundraising round.
As a result, he will advise its founder and CEO, Rahi Daneshmand, on ‘how best to scale the business globally.’
Crystal Palace footballer Eberechi Eze also participated in the funding round and will be ‘actively involved’ in its marketing strategy, Virtue said.
Watt and Eze join ex-Manchester United centre-back and England international Chris Smalling, who invested a six-figure amount in Virtue three years ago.
Daneshmand said Watt and Eze’s ‘belief in our vision and commitment to our growth emphasises the positive impact we plan to achieve together.’
Hire: Virtue Drinks has appointed BrewDog co-founder James Watt as a ‘strategic advisor’
Established in 2016, Virtue creates energy drinks using yerba mate, a plant made from the dried leaves of holly trees high in caffeine and antioxidants.
The company’s drinks are available in three varieties: tropical, peach and raspberry, and strawberry and lime, and are sold across 20 territories.
People can buy their products from major grocery chains like Morrisons, Ocado, and Waitrose, as well as Motor Fuels Group, Britain’s largest forecourt operator.
Virtue claims to be the UK’s fastest-selling ‘clean’ energy drink due to its distribution doubling on average over each of the past two years.
Watt said it was ‘seldom that I see a drinks brand that genuinely excites me. In Virtue, I found an amazing product led by a brilliant entrepreneur.
‘I found Virtue first and foremost as a consumer, and I am delighted to now be helping them on their growth journey.’
The Aberdeenshire-born businessman stood down as BrewDog’s boss during the summer, although he remains on the board as a non-executive director.
Since starting the company with school friend Martin Dickie in 2007, BrewDog has grown to become Britain’s largest craft brewer, with over 120 pubs and 2,500 staff.
However, the firm has been dogged by controversy in recent years regarding its green credentials, its decision to stop paying new workers the so-called ‘real living wage,’ and Watt’s behaviour towards employees.
In an open letter published in 2021, some ex-staff calling themselves Punks with Purpose alleged Watt oversaw a ‘rotten culture’ that left some workers ‘burnt out, afraid and miserable.’ Watt and BrewDog apologised following the accusations.
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