Cleveland Avenue State Treasurer Urban Success Fund (CAST US)
Founded by Don Thompson, the former President and CEO of McDonald’s Corporation, Cleveland Avenue is a Chicago-based venture capital firm that invests in lifestyle consumer brands and technology companies that positively disrupt large and growing markets. Launched in 2021, the CAST US Fund is a $70M initiative that will bridge the capital and resource gap impacting Black, Latinx, and women entrepreneurs in Chicago’s South and West Side neighborhoods. CAST US leverages the investment and entrepreneurial development expertise of Cleveland Avenue to support this historically underserved group of entrepreneurs.
Stage of capital: Seed, Series A, Series B
Location: Chicago, IL
Fund manager diversity: Black and African American led
Diversity focus: Women, Black and African American, Hispanic-Latino
Industry focus: Environmental Sustainability, General Tech- and Tech-Enabled, Consumer and Retail, B2B, Healthcare and Wellness (incl. FemTech), Future of Work and Living (incl. Education/EdTech), Food and Agriculture