Cleveland Avenue

Cleveland Avenue is a venture capital investment firm established in 2015 and based in Chicago, Illinois. The firm specializes in investing in a range of sectors, including food and beverage companies, lifestyle consumer brands, agricultural technology, and technology firms. As a registered investment adviser, Cleveland Avenue focuses on seed-stage, early-stage, later-stage, and growth-stage opportunities, aiming to support innovative companies that align with its strategic interests.

Matthew Wellington Burns

Senior Associate, Investments

Fernando Carranza

Venture Investor

Harry Coaxum

Managing Partner, Operations

Walker Cullinan

Analyst

Ellen Federbush

Project Manager, Office of the CEO

Keith Kravcik

Chief Investment Officer

Mingu Lee

Managing Partner, Technology Investments

Randall Lewis

Managing Partner, Agri-Tech Investments

Jason Mercer

Principal

Fabian Gosselin

Investor

Veronica Pierce

Director of Strategic Partnerships

Don Thompson

Co-Founder and CEO

Ryan Tlusty

CFO

Robert Wietecki

Senior Associate, Investments

Taylor Williams

Venture Investor

Past deals in FMCG

Hero Bread

Series B in 2024
Hero Bread is a food product company headquartered in San Francisco, USA, that focuses on creating nutritious baked alternatives. The company offers a variety of products, including bread, muffins, and tortillas, designed to provide healthier options for consumers. Hero Bread emphasizes the use of nutrient-rich ingredients, producing items that contain no sugar, zero net carbohydrates, and fewer calories while maintaining a delicious taste. This approach allows individuals to enjoy their favorite baked goods without the guilt associated with traditional products.

Better Foods

Seed Round in 2023
Better Foods is a company focused on promoting alternative food products, specializing in plant-based options. It offers a range of products including plant-based meats and dairy alternatives such as milk, cheese, and sauces. The company aims to provide consumers with authentic flavors and textures of traditional meat products, while addressing concerns related to food additives. By emphasizing quality and taste, Better Foods seeks to cater to the growing demand for healthier and more sustainable dietary choices.

Iya Foods

Seed Round in 2023
Iya Foods is an African-inspired food business dedicated to providing authentic and nutritious culinary products. The company offers a diverse range of items, including spices, seasonings, savory simmer sauces, gluten-free flours, and dried hibiscus flowers and petals. Committed to delivering exceptional flavor and nourishment, Iya Foods ensures that all its products are free from MSG, gluten, preservatives, and other harmful artificial ingredients. This focus on quality and sustainability enables customers to enjoy wholesome foods while embracing the rich culinary traditions of Africa.

Hero Bread

Series B in 2023
Hero Bread is a food product company headquartered in San Francisco, USA, that focuses on creating nutritious baked alternatives. The company offers a variety of products, including bread, muffins, and tortillas, designed to provide healthier options for consumers. Hero Bread emphasizes the use of nutrient-rich ingredients, producing items that contain no sugar, zero net carbohydrates, and fewer calories while maintaining a delicious taste. This approach allows individuals to enjoy their favorite baked goods without the guilt associated with traditional products.

Somrus

Series C in 2023
Somrus is a producer of cream liqueurs that combines distilled rum, dairy cream, and natural flavors to create a diverse range of products. The company offers various flavors, including bourbon chai, raspberry mango cooler, urban bourbon lift, iced dirty chai latte, mango fizz, chairish toast, mango bean, and mango colada. Somrus aims to provide consumers with high-quality liqueurs crafted from natural recipes, ensuring a rich taste experience while maintaining affordability. Through its innovative approach to flavor and product development, Somrus seeks to enhance enjoyment without compromising on quality.

GOOD PLANeT Foods

Series B in 2023
Good PLANeT Foods LLC, incorporated in 2017 and based in Bellevue, Washington, specializes in producing premium plant-based cheese products. The company offers a variety of cheese alternatives, including shreds and slices in flavors such as mozzarella, smoked mozzarella, parmesan, cheddar, smoked provolone, garlic and herb, and hot pepper. Good PLANeT Foods aims to provide consumers with delicious and nutritious dairy-free options that replicate the flavors of traditional cheese, all while promoting animal rights and environmental sustainability. The company is dedicated to offering a healthy alternative to dairy cheese without compromising on taste.

Ayo Foods

Seed Round in 2022
AYO Foods is a premium meal solutions brand that specializes in authentic West African cuisine. The company offers a variety of traditional frozen foods and ready-to-serve meals, as well as shelf-stable sauces. Its product line features unique flavors and ingredients such as egusi melon seeds, cassava, and sorghum leaves, allowing consumers to enjoy traditional meals conveniently. AYO Foods aims to create mealtime opportunities by providing a diverse and authentic menu that can be enjoyed anytime and anywhere.

NotCo

Series D in 2022
NotCo is a food technology company based in Macul, Chile, founded in 2015. The company specializes in creating plant-based alternatives to traditional animal-based products, including mayonnaise, milk, yogurt, dressings, and desserts. Utilizing artificial intelligence, NotCo develops innovative food systems that replicate the taste, texture, color, and aroma of meat and dairy products while employing ingredients such as pineapple, coconut, cabbage, peas, bamboo, beets, chickpeas, and various seeds. By doing so, NotCo provides consumers with nutritious options that offer fiber, calcium, and protein derived from vegetables, making its products available through various retailers in Chile.

Partake Foods

Series B in 2022
Partake Foods, Inc. is a food company that specializes in the production and sale of allergy-friendly cookies. Founded in 2016 and headquartered in Jersey City, New Jersey, the company offers a diverse range of products, including nut-free, gluten-free, and vegan cookies. Its offerings feature various flavors such as sprouted grain chocolate chip, double chocolate chip, sweet potato millet, carrot oat, and birthday cake mini cookies. Partake Foods is committed to providing non-genetically modified and kosher options, catering to health-conscious consumers and families seeking safe snack alternatives. The company's products are available for purchase online, emphasizing accessibility for customers looking for healthy, allergen-free snacks.

Farmer's Fridge

Series E in 2022
Farmer's Fridge is a company that operates automated smart fridges, providing a variety of chef-curated salads, bowls, and snacks. Founded in 2013 and headquartered in Chicago, Illinois, the company addresses the challenge of accessing healthy and affordable food options, particularly for those on the go. The fridges utilize advanced technology to monitor demand and ensure fresh meals are available quickly. Additionally, any unsold items are regularly donated to local food pantries, supporting community members in need with responsibly sourced nutrition. Farmer's Fridge is committed to making nutritious eating simple and accessible for everyone.

Somrus

Convertible Note in 2022
Somrus is a producer of cream liqueurs that combines distilled rum, dairy cream, and natural flavors to create a diverse range of products. The company offers various flavors, including bourbon chai, raspberry mango cooler, urban bourbon lift, iced dirty chai latte, mango fizz, chairish toast, mango bean, and mango colada. Somrus aims to provide consumers with high-quality liqueurs crafted from natural recipes, ensuring a rich taste experience while maintaining affordability. Through its innovative approach to flavor and product development, Somrus seeks to enhance enjoyment without compromising on quality.

Somrus

Series C in 2022
Somrus is a producer of cream liqueurs that combines distilled rum, dairy cream, and natural flavors to create a diverse range of products. The company offers various flavors, including bourbon chai, raspberry mango cooler, urban bourbon lift, iced dirty chai latte, mango fizz, chairish toast, mango bean, and mango colada. Somrus aims to provide consumers with high-quality liqueurs crafted from natural recipes, ensuring a rich taste experience while maintaining affordability. Through its innovative approach to flavor and product development, Somrus seeks to enhance enjoyment without compromising on quality.

Ayo Foods

Convertible Note in 2022
AYO Foods is a premium meal solutions brand that specializes in authentic West African cuisine. The company offers a variety of traditional frozen foods and ready-to-serve meals, as well as shelf-stable sauces. Its product line features unique flavors and ingredients such as egusi melon seeds, cassava, and sorghum leaves, allowing consumers to enjoy traditional meals conveniently. AYO Foods aims to create mealtime opportunities by providing a diverse and authentic menu that can be enjoyed anytime and anywhere.

Hero Bread

Series A in 2021
Hero Bread is a food product company headquartered in San Francisco, USA, that focuses on creating nutritious baked alternatives. The company offers a variety of products, including bread, muffins, and tortillas, designed to provide healthier options for consumers. Hero Bread emphasizes the use of nutrient-rich ingredients, producing items that contain no sugar, zero net carbohydrates, and fewer calories while maintaining a delicious taste. This approach allows individuals to enjoy their favorite baked goods without the guilt associated with traditional products.

Farmer's Fridge

Series D in 2021
Farmer's Fridge is a company that operates automated smart fridges, providing a variety of chef-curated salads, bowls, and snacks. Founded in 2013 and headquartered in Chicago, Illinois, the company addresses the challenge of accessing healthy and affordable food options, particularly for those on the go. The fridges utilize advanced technology to monitor demand and ensure fresh meals are available quickly. Additionally, any unsold items are regularly donated to local food pantries, supporting community members in need with responsibly sourced nutrition. Farmer's Fridge is committed to making nutritious eating simple and accessible for everyone.

Ayo Foods

Convertible Note in 2021
AYO Foods is a premium meal solutions brand that specializes in authentic West African cuisine. The company offers a variety of traditional frozen foods and ready-to-serve meals, as well as shelf-stable sauces. Its product line features unique flavors and ingredients such as egusi melon seeds, cassava, and sorghum leaves, allowing consumers to enjoy traditional meals conveniently. AYO Foods aims to create mealtime opportunities by providing a diverse and authentic menu that can be enjoyed anytime and anywhere.

Ayo Foods

Convertible Note in 2020
AYO Foods is a premium meal solutions brand that specializes in authentic West African cuisine. The company offers a variety of traditional frozen foods and ready-to-serve meals, as well as shelf-stable sauces. Its product line features unique flavors and ingredients such as egusi melon seeds, cassava, and sorghum leaves, allowing consumers to enjoy traditional meals conveniently. AYO Foods aims to create mealtime opportunities by providing a diverse and authentic menu that can be enjoyed anytime and anywhere.

NotCo

Series C in 2020
NotCo is a food technology company based in Macul, Chile, founded in 2015. The company specializes in creating plant-based alternatives to traditional animal-based products, including mayonnaise, milk, yogurt, dressings, and desserts. Utilizing artificial intelligence, NotCo develops innovative food systems that replicate the taste, texture, color, and aroma of meat and dairy products while employing ingredients such as pineapple, coconut, cabbage, peas, bamboo, beets, chickpeas, and various seeds. By doing so, NotCo provides consumers with nutritious options that offer fiber, calcium, and protein derived from vegetables, making its products available through various retailers in Chile.

Farmer's Fridge

Series D in 2020
Farmer's Fridge is a company that operates automated smart fridges, providing a variety of chef-curated salads, bowls, and snacks. Founded in 2013 and headquartered in Chicago, Illinois, the company addresses the challenge of accessing healthy and affordable food options, particularly for those on the go. The fridges utilize advanced technology to monitor demand and ensure fresh meals are available quickly. Additionally, any unsold items are regularly donated to local food pantries, supporting community members in need with responsibly sourced nutrition. Farmer's Fridge is committed to making nutritious eating simple and accessible for everyone.

GOOD PLANeT Foods

Series A in 2020
Good PLANeT Foods LLC, incorporated in 2017 and based in Bellevue, Washington, specializes in producing premium plant-based cheese products. The company offers a variety of cheese alternatives, including shreds and slices in flavors such as mozzarella, smoked mozzarella, parmesan, cheddar, smoked provolone, garlic and herb, and hot pepper. Good PLANeT Foods aims to provide consumers with delicious and nutritious dairy-free options that replicate the flavors of traditional cheese, all while promoting animal rights and environmental sustainability. The company is dedicated to offering a healthy alternative to dairy cheese without compromising on taste.

Somrus

Convertible Note in 2020
Somrus is a producer of cream liqueurs that combines distilled rum, dairy cream, and natural flavors to create a diverse range of products. The company offers various flavors, including bourbon chai, raspberry mango cooler, urban bourbon lift, iced dirty chai latte, mango fizz, chairish toast, mango bean, and mango colada. Somrus aims to provide consumers with high-quality liqueurs crafted from natural recipes, ensuring a rich taste experience while maintaining affordability. Through its innovative approach to flavor and product development, Somrus seeks to enhance enjoyment without compromising on quality.

Bhakti

Convertible Note in 2019
Bhakti, Inc. is a producer of chai concentrates, iced chai beverages, and dry tea products, with a focus on delivering authentic flavors through sustainably sourced ingredients. Established in 2002 and located in Boulder, Colorado, the company offers a range of products including iced chai available in six varieties, such as Original and Decaf, as well as concentrate products sold in quarts and gallons. Bhakti emphasizes the use of Fair Trade, Non-GMO, and organic ingredients, ensuring a high-quality beverage experience. Its products are widely accessible through various retail channels, including Whole Foods and Costco, as well as online platforms, allowing customers to enjoy both hot and cold tea blends made with real ginger, black tea, and spices. The company is committed to ethical business practices, aligning with B Corp standards to promote sustainability and social responsibility.

Farmer's Fridge

Convertible Note in 2019
Farmer's Fridge is a company that operates automated smart fridges, providing a variety of chef-curated salads, bowls, and snacks. Founded in 2013 and headquartered in Chicago, Illinois, the company addresses the challenge of accessing healthy and affordable food options, particularly for those on the go. The fridges utilize advanced technology to monitor demand and ensure fresh meals are available quickly. Additionally, any unsold items are regularly donated to local food pantries, supporting community members in need with responsibly sourced nutrition. Farmer's Fridge is committed to making nutritious eating simple and accessible for everyone.

Bhakti

Convertible Note in 2019
Bhakti, Inc. is a producer of chai concentrates, iced chai beverages, and dry tea products, with a focus on delivering authentic flavors through sustainably sourced ingredients. Established in 2002 and located in Boulder, Colorado, the company offers a range of products including iced chai available in six varieties, such as Original and Decaf, as well as concentrate products sold in quarts and gallons. Bhakti emphasizes the use of Fair Trade, Non-GMO, and organic ingredients, ensuring a high-quality beverage experience. Its products are widely accessible through various retail channels, including Whole Foods and Costco, as well as online platforms, allowing customers to enjoy both hot and cold tea blends made with real ginger, black tea, and spices. The company is committed to ethical business practices, aligning with B Corp standards to promote sustainability and social responsibility.

Farmer's Fridge

Secondary Market in 2019
Farmer's Fridge is a company that operates automated smart fridges, providing a variety of chef-curated salads, bowls, and snacks. Founded in 2013 and headquartered in Chicago, Illinois, the company addresses the challenge of accessing healthy and affordable food options, particularly for those on the go. The fridges utilize advanced technology to monitor demand and ensure fresh meals are available quickly. Additionally, any unsold items are regularly donated to local food pantries, supporting community members in need with responsibly sourced nutrition. Farmer's Fridge is committed to making nutritious eating simple and accessible for everyone.

Farmer's Fridge

Convertible Note in 2018
Farmer's Fridge is a company that operates automated smart fridges, providing a variety of chef-curated salads, bowls, and snacks. Founded in 2013 and headquartered in Chicago, Illinois, the company addresses the challenge of accessing healthy and affordable food options, particularly for those on the go. The fridges utilize advanced technology to monitor demand and ensure fresh meals are available quickly. Additionally, any unsold items are regularly donated to local food pantries, supporting community members in need with responsibly sourced nutrition. Farmer's Fridge is committed to making nutritious eating simple and accessible for everyone.

Farmer's Fridge

Series C in 2018
Farmer's Fridge is a company that operates automated smart fridges, providing a variety of chef-curated salads, bowls, and snacks. Founded in 2013 and headquartered in Chicago, Illinois, the company addresses the challenge of accessing healthy and affordable food options, particularly for those on the go. The fridges utilize advanced technology to monitor demand and ensure fresh meals are available quickly. Additionally, any unsold items are regularly donated to local food pantries, supporting community members in need with responsibly sourced nutrition. Farmer's Fridge is committed to making nutritious eating simple and accessible for everyone.

Somrus

Series B in 2018
Somrus is a producer of cream liqueurs that combines distilled rum, dairy cream, and natural flavors to create a diverse range of products. The company offers various flavors, including bourbon chai, raspberry mango cooler, urban bourbon lift, iced dirty chai latte, mango fizz, chairish toast, mango bean, and mango colada. Somrus aims to provide consumers with high-quality liqueurs crafted from natural recipes, ensuring a rich taste experience while maintaining affordability. Through its innovative approach to flavor and product development, Somrus seeks to enhance enjoyment without compromising on quality.

Somrus

Venture Round in 2017
Somrus is a producer of cream liqueurs that combines distilled rum, dairy cream, and natural flavors to create a diverse range of products. The company offers various flavors, including bourbon chai, raspberry mango cooler, urban bourbon lift, iced dirty chai latte, mango fizz, chairish toast, mango bean, and mango colada. Somrus aims to provide consumers with high-quality liqueurs crafted from natural recipes, ensuring a rich taste experience while maintaining affordability. Through its innovative approach to flavor and product development, Somrus seeks to enhance enjoyment without compromising on quality.

Bhakti

Series B in 2017
Bhakti, Inc. is a producer of chai concentrates, iced chai beverages, and dry tea products, with a focus on delivering authentic flavors through sustainably sourced ingredients. Established in 2002 and located in Boulder, Colorado, the company offers a range of products including iced chai available in six varieties, such as Original and Decaf, as well as concentrate products sold in quarts and gallons. Bhakti emphasizes the use of Fair Trade, Non-GMO, and organic ingredients, ensuring a high-quality beverage experience. Its products are widely accessible through various retail channels, including Whole Foods and Costco, as well as online platforms, allowing customers to enjoy both hot and cold tea blends made with real ginger, black tea, and spices. The company is committed to ethical business practices, aligning with B Corp standards to promote sustainability and social responsibility.

Farmer's Fridge

Series B in 2017
Farmer's Fridge is a company that operates automated smart fridges, providing a variety of chef-curated salads, bowls, and snacks. Founded in 2013 and headquartered in Chicago, Illinois, the company addresses the challenge of accessing healthy and affordable food options, particularly for those on the go. The fridges utilize advanced technology to monitor demand and ensure fresh meals are available quickly. Additionally, any unsold items are regularly donated to local food pantries, supporting community members in need with responsibly sourced nutrition. Farmer's Fridge is committed to making nutritious eating simple and accessible for everyone.
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