Liquid Ventures: Europe’s first No & Low Alcohol venture builder hits the market

According to IWSR data, the no-alcohol sector is set to dominate future industry growth, projected to surge from $10 billion to $15 billion by 2029. Against this backdrop, Liquid Ventures has launched as Europe’s first venture builder exclusively dedicated to developing companies and brands within the No & Low Alcohol segment. The initiative seeks to capitalize on a structural shift in global consumption driven by the pursuit of wellness and balanced lifestyles.

The Powerhouse Behind Liquid Ventures

The company is founded by three prominent figures in the international beverage industry. Paolo Dalla Mora, entrepreneur and founder of the gin brand Engine and Strucchi Vermouth, serves as CEO and President. Joining the board as partners and shareholders are Bob Kunze-Concewitz—the legendary former CEO of Campari Group, under whose leadership market capitalization grew from €3 billion to over €14 billion—and Luca Gargano, head of Velier, the independent distributor responsible for making Italy the second-largest market in the world for Fever-Tree.

Headquartered in the Langhe region with operational offices in Milan, the firm has also secured a technological partnership with Nana Bianca, the innovation ecosystem founded by Paolo Barberis.

Strategy and Business Model

Liquid Ventures will operate as a venture builder and investment platform rather than a traditional incubator. The goal is to build global brands from the ground up, either through internal startups or by acquiring early-stage international projects. The portfolio will focus on high-value, contemporary products, including: energy drinks, functional non-alcoholic beverages infused with nootropics and adaptogens, and proxy wines—products specifically designed for Millennials and Gen Z.

“Our goal is to move past the idea that ‘alcohol-free’ means ‘experience-free’,” states Paolo Dalla Mora. “We want to build a company capable of developing sophisticated, modern products ready for the global stage.”

Ehe company’s five-year industrial plan includes:

• The launch of proprietary brands in the No & Low space.
• Progressive international expansion.
• Consolidating its European presence within the first 18 months.
• The development of the Liquid Insight Lab, a dedicated observatory for emerging beverage trends.
• An annual “call for ideas” in collaboration with international universities and business schools to identify new talent and scalable projects.

“The low & no alcohol segment is outpacing many traditional categories and opening up new consumption occasions,” says Luca Gargano. “In Italy, for instance, daily alcohol consumption fell from 33.3% in 1999 to 19% in 2023, while occasional and out-of-meal consumption continues to rise (Source: Istat).”

Reinforcing the project’s scalability, Bob Kunze-Concewitz highlights that over 40% of global consumers now alternate between alcoholic and non-alcoholic drinks during the same occasion.

“Liquid Ventures has the ambition to become a global player, potentially eyeing a future IPO or a worldwide distribution partnership.”

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