Virtue Drinks hires former BrewDog boss James Watt as ‘strategic advisor’

A fast-growing energy drinks brand has appointed BrewDog co-founder James Watt as a “strategic advisor” after receiving an investment from the Scottish entrepreneur.

Virtue Drinks revealed that Watt, who stepped down as the brewer’s CEO earlier this year, was an angel investor in its recent £2 million fundraising round.

As a result, he will advise founder and CEO, Rahi Daneshmand, on “how best to scale the company globally.”

Crystal Palace footballer Eberechi Eze also took part in the funding round and will be ‘actively involved’ in the marketing strategy, Virtue said.

Watt and Eze join ex-Manchester United centre-back and England international Chris Smalling, who invested a six-figure sum in Virtue three years ago.

Daneshmand said Watt and Eze’s belief in our vision and commitment to our growth highlights the positive impact we want to achieve together.

Founded in 2016, Virtue makes energy drinks using yerba mate, a plant made from the dried leaves of holly trees that is 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 in 20 territories.

People can buy their products from major supermarket chains such as Morrisons, Ocado and Waitrose, as well as from Motor Fuels Group, the largest petrol station operator in Britain.

Virtue claims to be the fastest selling ‘clean’ energy drink in Britain as its distribution has doubled on average over the past two years.

Watt said it’s “rarely that I see a beverage brand that really excites me.” In Virtue I found a great product led by a brilliant entrepreneur.

“I discovered Virtue primarily as a consumer, and I’m excited to now help them on their growth journey.”

The Aberdeenshire-born businessman stepped down as boss of BrewDog over the summer, although he still sits on the board as a non-executive director.

Since starting the business in 2007 with school friend Martin Dickie, BrewDog has grown into Britain’s largest craft brewer, with more than 120 pubs and 2,500 employees.

However, the company has been dogged in recent years by controversy over its green reputation, its decision to no longer pay new employees the so-called ‘real living wage’, and Watt’s behavior towards employees.

In an open letter published in 2021, some ex-staff members calling themselves Punks with Purpose alleged that Watt oversaw a “rotten culture” that left some employees “burned out, scared and miserable.” Watt and BrewDog apologized after the allegations.