Cleveland Avenue, LLC describes itself on its own site as "a global venture capital firm that invests in lifestyle consumer brands and technology companies that positively disrupt large and growing markets", and says it provides "financial resources, expertise, and holistic business support to help unlock the value of our investments". Its stated opportunity areas are Agritech, Food & Beverage, Restaurant & Food Tech, Robotics/AI, Software Services, Consumer Goods & Services, and Lifestyles of Health & Sustainability. It is an operator-led firm founded by former McDonald's President and CEO Don Thompson and Liz Thompson, and it runs a hands-on services model covering business strategy, finance, organisational development, operations, marketing, supply chain, concept development, facilities management and "Product & Experience Showcases" that bring culinary and consumer solutions to market. It invests through named vehicles including the Cleveland Avenue Food & Beverage Funds, the Cleveland Avenue State Treasurers Urban Success Fund (CAST US) and a CA Tech Fund focused on AI, robotics and digital experience.
Don Thompson and Liz Thompson found Cleveland Avenue, LLC in Chicago; the firm's own site says "Founded in 2015" and its Chief Investment Officer's bio dates the firm's inception to September 2015. The Thompsons concurrently form The Cleveland Avenue Foundation for Education.
2017
Cleveland Avenue, described in contemporaneous reporting as an "accelerator for remarkable food and beverage concepts", opens Taste222, a combination restaurant and food concept showcase at its 222 N. Canal Street building in Chicago's West Loop.
2020
Cleveland Avenue State Treasurers Urban Success Fund, LP (CAST US) is organised in Delaware and files a Form D on 14 October 2020; its March 2021 amendment reports a $73,000,000 offering fully sold. Cleveland Avenue Food & Beverage Fund II, LP is organised in Delaware and files a Form D on 9 October 2020 reporting a $500,000,000 offering with $0 sold at the time of filing.
2022
Presto Automation Inc., formerly the SPAC Ventoux CCM Acquisition Corp., becomes a public company on 21 September 2022; Cleveland Avenue Food and Beverage Fund II, LP subsequently reports beneficial ownership of 10,000,000 shares, or 17.3% of the class, on a Schedule 13D.
2023
Cleveland Avenue Food and Beverage Fund II, LP files a Schedule 13D/A on 20 December 2023 reporting 11,500,000 shares of Presto Automation Inc., 17.1% of the class, following anti-dilution provisions triggered on 21 November 2023.
2024
Presto Automation Inc. files a Form 15-12G on 19 September 2024 deregistering its securities; the company is no longer a reporting public issuer.