Investor Interview: No Sleep Beverage

No Sleep Beverage invests in and builds transcendent alcoholic beverage brands. I interviewed their CMO, Charlie Rodman about his story and what they do. I’ve summarized the key points of the interview in a 5-minute read below, but you can listen to the full 45-minute interview here:

Q: Can you give a quick overview of No Sleep Beverage?

No Sleep Beverage is a value-add strategic venture capital firm. We have an investment arm and a studio side that offers consultative services. For some brands, we act as fractional executives, like me as a fractional CMO or our CFO as a fractional CFO. It's daily, hands-on work to help guide entrepreneurs, not just quarterly board calls.

Q: What’s your background and how did you end up at No Sleep?

I started in finance, switched to strategy consulting, and worked with Diageo, where I developed a passion for spirits. Over six months, I bought 120 bottles of spirits to learn everything I could. Later, I worked in strategy at Pernod Ricard and gained deep commercialization experience at Total Beverage Solution. I started a whiskey blog and launched my own spirits consultancy before connecting with Nick, the CEO of No Sleep Beverage, which led to my current role.

Q: What does No Sleep look for in brands?

We focus on what we call transcendent brands—brands that resonate culturally and emotionally. For example, Solento Tequila taps into the surfer's 'flow state' and invites people to slow down and savor moments. It's about connecting products to moments and occasions, not just selling numbers.

Q: How do you evaluate a brand’s cultural impact?

You start with consumer insights—what need does the brand fulfill? It’s about identifying consumer ‘jobs to be done’ and tying those to the brand’s purpose. Quantitative data can help, but it’s also about qualitative research and spotting trends, like the rise of umami flavors or the appeal of nostalgic cultural spirits like mezcal.

Q: What trends are you seeing in the spirits industry?

• Premiumization is huge. Even as Gen Z drinks less, they seem willing to spend more on quality. If you're drinking less, you care more about what you drink.

• There’s an openness to cross-cultural flavors, like lychee or yuzu, which mirrors trends we saw in food.

• Heritage-rich categories like tequila and mezcal continue to grow, driven by authenticity and cultural resonance.

Q: What made you want to invest in Madre Mezcal?

Madre Mezcal has this cultural authenticity and an incredible design that stands out on shelves. It’s also backed by strong metrics—second-fastest velocity in its category despite costing twice as much as competitors. Their strategy aligns with our ‘deepen before you broaden’ philosophy, proving success in one market before expanding thoughtfully.

Q: How does No Sleep prepare brands for acquisition?

We create a proprietary KPI scorecard and playbook for brands. This includes proven strategies for account types, messaging, and promotions that can scale. It’s about showing acquirers that the brand’s success isn’t just founder-driven but replicable.

Q: Any resources for learning about spirits?

Robin Robinson’s book is a great primer. Dave Broom and Charlie McLean offer deep dives into Scotch. For industry insights, 'What’s Inside the Bottle' by the former CMO of Seagrams is fantastic.

Q: Is No Sleep raising funds now?

Not actively. We're focused on building a portfolio of 8-10 brands for this fund. We're also exploring a larger vehicle for the future, but that's still in early discussions.

Charlie’s Final Note: "Hopefully this was informative. Now, time for a drink!"

Disclaimer: This interview is for educational purposes and should not be relied on for investment advice. Contact an investment professional and conduct your own due diligence when evaluating any investment. I received no compensation from No Sleep Beverage for this interview. Bourbon Bubba is not affiliated with SP Securities.