# Cleveland Avenue

> Cleveland Avenue is a Chicago-based venture capital firm founded by former McDonald’s CEO Don Thompson and Liz Thompson. It invests across lifestyle consumer brands, food and restaurant technology, agricultural technology, software, AI and robotics, then supports founders with operators, consumer research, product development, supply-chain guidance and a 33,000-square-foot innovation facility. Its CAST US strategy adds a place-based mandate: backing Black, Latino and women entrepreneurs, particularly on Chicago’s South and West sides.

- **Founded:** 2015
- **Headquarters:** Chicago, United States
- **Founders:** Don Thompson (Co-founder and CEO), Liz Thompson (Co-founder)
- **Team size:** Approximately 69 employees, based on supplied company data; the firm is privately held and does not publish a current audited headcount.
- **Products:** Venture capital investment, Portfolio Support Services, Innovation Facility, CAST US, Product and Experience Showcases
- **Notable:** Built a portfolio spanning dozens of current and exited companies across food, consumer, software, agriculture, climate, AI and robotics., Launched the $70 million CAST US fund in 2021 with a $16 million anchor commitment from the Illinois Treasurer’s ILGIF program., CAST US reported sourcing and investing in ten companies during its first year.

## Products & services

- **Venture capital investment** — Investment across lifestyle consumer brands and technologies including food and beverage, restaurant technology, agricultural technology, software, AI, robotics, health and sustainability.
- **Portfolio Support Services** — Hands-on business strategy, finance, organizational development, operations, analysis, marketing, supply-chain, concept development and strategic-resource support for portfolio companies.
- **Innovation Facility** — A 33,000-square-foot platform for research and development, consumer research, showcases and summits, including two test kitchens and a mixology lab.
- **CAST US** — The Cleveland Avenue State Treasurer’s Urban Success Fund invests in Black, Latino and women entrepreneurs, with an emphasis on Chicago’s South and West sides, alongside business support.
- **Product and Experience Showcases** — Events that connect portfolio founders with investors, brands and strategic partners while letting audiences experience products and technologies directly.

## Achievements

- Built a portfolio spanning dozens of current and exited companies across food, consumer, software, agriculture, climate, AI and robotics.
- Launched the $70 million CAST US fund in 2021 with a $16 million anchor commitment from the Illinois Treasurer’s ILGIF program.
- CAST US reported sourcing and investing in ten companies during its first year.
- Received the 2021 Innovator Award for Social Impact from Loyola University Chicago’s Baumhart Center alongside the Cleveland Avenue Foundation for Education.
- Established a 33,000-square-foot innovation facility for R&D, consumer research, showcases and summits.
- Reached its 11th anniversary in 2026.
- Participated in Bear Robotics’ $81 million Series B in 2022 and backed Farmer’s Fridge in multiple stages of its growth.
- Formed an arena-scale innovation alliance with the Phoenix Suns and Phoenix Mercury in 2023.

## Latest updates

- **2026-06** — Portfolio company 86 Repairs was acquired by Parts Town, according to investment-market reporting.
- **2026-04** — Cleveland Avenue marked its 11th anniversary and reiterated its hands-on founder-support model.
- **2026-01** — Market databases reported Cleveland Avenue as an investor in cybersecurity company Outtake’s $40 million Series B.
- **2025-10** — Don Thompson participated in World Business Chicago’s Future of Food Summit, which convened the region’s food, beverage and agriculture ecosystem.
- **2025-05** — Portfolio activity included follow-on financing for The Desire Company and SparkCharge, according to investment-market databases.

## Links

- Website: https://www.clevelandavenue.com/
- LinkedIn: https://www.linkedin.com/company/cleveland-avenue/
- Twitter/X: https://twitter.com/CleveAveLLC
- Instagram: https://www.instagram.com/cleveavellc/

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Profile page: https://yespress.io/cleveland-avenue
Published by YesPress — https://yespress.io
Last updated: 2026-08-15