Cleveland Avenue
UnclaimedAt a Glance
- Check Size
- $. – $.
- Stage
- Pre-Seed, Seed, Series A, Series B+
- AUM
- $500M
- Sectors
- Consumer, Marketplace, Robotics
- Founded
- 2015
- HQ
- Chicago, IL
About Cleveland Avenue
Cleveland Avenue is a venture capital firm based in Chicago, IL founded in 2015. Cleveland Avenue helps to unlock the value of our investments by developing strong business leaders and leveraging our vast organizational capabilities to support growth and change. We’re more than a passive investor. We help our portfolio companies build the future by investing in people and ideas that bring true world changing value to the lives of consumers.
The firm focuses on Pre-Seed, Seed, Series A, Series B+ investments across sectors including Aerospace & Defense, Other, Consumer, Fintech, Climate. The firm manages $500M in assets under management. Notable portfolio companies include Farmer's Dog, Found, Whipshots, Chowbotics and Ritual. Focuses on food, beverage, and restaurant technology companies that transform how people discover, create, and enjoy food.
Investment Thesis
“Focuses on food, beverage, and restaurant technology companies that transform how people discover, create, and enjoy food.”
Sector Focus
Investment Stage
Notable Portfolio Companies
Fund History
- Cleveland Avenue's institutional funds appear in SEC filings from 2020.
- Cleveland Avenue Food & Beverage Fund II, LP, a Delaware partnership formed in 2020, filed a Form D on October 9, 2020 with a $500 million target offering and Donald Thompson named as executive officer.
- Five days later the firm noticed the Cleveland Avenue State Treasurers Urban Success Fund, LP, known as CAST US, at a $35 million target; an amended filing on March 11, 2021 raised the offering to $73 million and reported the full $73 million sold, with a first sale on October 29, 2020.
- CAST US is the vehicle built alongside state treasurers to direct capital toward urban and underrepresented management teams, and it runs separately from the food and beverage strategy.
- Investment scope covers agritech, food and beverage, restaurant and food technology, robotics and artificial intelligence, software services, consumer goods and services, and health and sustainability lifestyle brands.
- The firm operates a 33,000 square foot innovation facility in Chicago for portfolio research, product development and consumer testing.
Team (2)
Frequently Asked Questions
What stage does Cleveland Avenue invest at?
Cleveland Avenue primarily invests at the Pre-Seed, Seed, Series A, Series B+ stages. This means they focus on companies that are at the earliest idea or prototype phase.
Where is Cleveland Avenue located?
Cleveland Avenue is headquartered in Chicago, IL. Many of their portfolio companies are also based in this region, though they invest across geographies.
What sectors does Cleveland Avenue focus on?
Cleveland Avenue focuses on investments in Consumer, Marketplace, Robotics. Their portfolio reflects deep expertise and networks within these sectors.
What is Cleveland Avenue's typical check size?
Cleveland Avenue's typical investment check size ranges from $. to $.. Actual amounts may vary based on the stage, sector, and specific opportunity.
How much does Cleveland Avenue have under management?
Cleveland Avenue manages approximately $500M in assets under management (AUM) across their funds.
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