Dark Horse, the maker of popular dark horse wine, has raised $1 million in new financing from private equity firm Greylock Partners, the Wall Street New York reports.
The company’s first-quarter earnings report revealed that it’s raising its dividend to 8.9 cents a share, up from 8 cents in 2016.
The deal also includes a $50 million line of credit for future expansion.
Greylock is led by David Siegel, who founded Greylocks Ventures in 2014 and led the company through a major shakeup.
Greys board includes former Wall Street CEOs such as Jack Ma, Robert Evans and Chris Jacobs.
Greynock’s stock has gained nearly 60% since the 2016 IPO and the company’s valuation is currently valued at $6.4 billion.
Greyles shares are up more than 50% in 2017.