Ex-Campari CEO launches Liquid Ventures for low-and-no
Why does this matter?
Former Campari CEO launches Europe's first venture builder focused on low/no-alcohol beverages, directly targeting the BevTech startup ecosystem with both investment capital and brand-building infrastructure.
Highlights
Three Italian industry experts have launched Liquid Ventures, a venture builder and investment platform focused on low- and no-alcohol beverages. Based in Milan, the company’s founders are: Paolo Dalla Mora, a former executive in the fast-moving consumer goods and fashion industries, as well as the founder of Engine Gin; Luca Gargano, CEO of Velier; and Bob Kunze-Concewitz, former CEO of the Campari Group. Described as Europe's 'first' venture builder focused solely on the no- and low-alcohol category, Liquid Ventures aims to create and develop new brands for Millennials and Gen Z consumers. It will invest in energy drinks and functional non-alcoholic beverages made with nootropics and adaptogens, as well as proxy wines and other emerging categories. Mora, who serves as both CEO and chairman, said: "Liquid Ventures is launching at a moment of profound change in how younger generations approach alcohol, alongside a broader technological shift driven by AI. "We've spent the past two years building the foundations for this. Our ambition is to develop sophisticated, contemporary products and challenge the idea that 'alcohol-free' means 'experience-free'. "We're not a traditional incubator – we're a venture builder. We want to create global brands from the ground up, as we did with Engine, and we're actively looking at early-stage opportunities internationally." Built for growth In the first five years, Liquid Ventures plans to launch proprietary brands in the low- and no-alcohol category, develop new product lines and categories, and establish the Liquid Insight Lab to track emerging beverage trends. Furthermore, the company aims to establish a strong presence in Europe within the first 18 months and expand into international markets. It will also run an annual global 'call for ideas' initiative with universities and business schools to identify new ventures and recruit top talent. Gargano, who is a board member and shareholder, explained: "Liquid Ventures was created to capture a long-term structural shift, not a passing trend. Low- and no-alcohol is growing faster than many traditional categories and unlocking new drinking occasions." According to IWSR data, 75% of Gen Z are actively reducing how much they drink – whether that's by drinking less frequently, consuming smaller quantities, or choosing no-alcohol and low-alcohol options more often. In the UK, one in four individuals aged 16 to 24 is reportedly now abstaining from alcohol, and those who do consume alcohol are increasingly moderating their intake. Additionally, the no-alcohol segment is projected to grow significantly, increasing from US$10 billion to US$15bn by 2029. Kunze-Concewitz, who is also a board member and shareholder, added: "The structural growth of low- and no-alcohol presents a unique opportunity to build a scalable, future-facing business. "More than 40% of consumers globally already alternate between alcoholic and non-alcoholic drinks within the same occasion. "With the founders' experience and a strong ability to anticipate trends, Liquid Ventures aims to become a global player in the years ahead – with potential pathways including a public listing or a major international distribution partnership."
The Spirits Business
