Cleveland Avenue

Cleveland Avenue is a venture capital firm based in Chicago, founded in 2015. The firm makes investments across seed, early, later, and growth stages, with a focus on food and beverage companies, lifestyle consumer brands, AgTech, and technology businesses. It provides capital and strategic support to startups seeking to scale product offerings, expand into new markets, and build operational capabilities. As an investment adviser, Cleveland Avenue combines financial backing with hands-on guidance to help portfolio companies achieve long-term growth.

Matthew Wellington Burns

Senior Associate, Investments

Harry Coaxum

Managing Partner

Walker Cullinan

Investment Analyst

Ellen Federbush

Project Manager, Office of the CEO

Keith Kravcik

Chief Investment Officer

Mingu Lee Ph.D

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

Partner

Ryan Tlusty

CFO

Robert Wietecki

Senior Associate, Investments

Taylor Williams

Senior Associate

Past deals in Beverages

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.

Sustainable Beverage Technologies

Series C in 2022
Sustainable Beverage Technologies Inc. is a Colorado-based company specializing in the production of beer and soda concentrates. The company utilizes its patented BrewVo brewing process to create carbonated beverages and wine products, which can be easily mixed with water and carbon dioxide for convenient consumption. This innovative approach is particularly designed for hikers and adventurers, allowing them to enjoy flavorful beer while on the go. Founded in 2010, Sustainable Beverage Technologies, previously known as Pat's Backcountry Beverages, also operates an online store selling branded merchandise such as water bottles, hats, and apparel. The company is committed to enhancing efficiencies in brewing and distribution, positioning itself as a unique player in the beverage industry.

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.

Apologue

Convertible Note in 2022
Founded in Chicago in 2016, Apologue produces and markets premium liqueur drinks crafted from entirely natural, non-GMO ingredients. Each expression features a unique regional ingredient, resulting in delicious, adventurous, and versatile liqueurs that cater to discerning consumers seeking natural cocktail options.

Ten To One Rum

Series A in 2022
Ten to One Rum is a wine company that builds a brand grounded in authentic elements of culture and heritage with a narrative that is both compelling and contemporary. They provide white and dark oak ex-bourbon cask rums.

Sustainable Beverage Technologies

Venture Round in 2021
Sustainable Beverage Technologies Inc. is a Colorado-based company specializing in the production of beer and soda concentrates. The company utilizes its patented BrewVo brewing process to create carbonated beverages and wine products, which can be easily mixed with water and carbon dioxide for convenient consumption. This innovative approach is particularly designed for hikers and adventurers, allowing them to enjoy flavorful beer while on the go. Founded in 2010, Sustainable Beverage Technologies, previously known as Pat's Backcountry Beverages, also operates an online store selling branded merchandise such as water bottles, hats, and apparel. The company is committed to enhancing efficiencies in brewing and distribution, positioning itself as a unique player in the beverage industry.

Bartesian

Series A in 2021
Bartesian Inc. is a manufacturer of a cocktail-making machine that enables customers to create customized, bar-quality cocktails at home using a capsule-based system. Founded in 2014 and headquartered in Chicago, Illinois, the company offers a robotic bartender that utilizes pre-mixed ingredient pods, allowing users to prepare a variety of cocktails, such as martinis and cosmos, at the press of a button. The machine combines alcohol, juices, bitters, and water from specialty pods, ensuring a seamless and authentic cocktail experience. Formerly known as MaxMixology Inc., the company adopted its current name in January 2015.

Sustainable Beverage Technologies

Venture Round in 2020
Sustainable Beverage Technologies Inc. is a Colorado-based company specializing in the production of beer and soda concentrates. The company utilizes its patented BrewVo brewing process to create carbonated beverages and wine products, which can be easily mixed with water and carbon dioxide for convenient consumption. This innovative approach is particularly designed for hikers and adventurers, allowing them to enjoy flavorful beer while on the go. Founded in 2010, Sustainable Beverage Technologies, previously known as Pat's Backcountry Beverages, also operates an online store selling branded merchandise such as water bottles, hats, and apparel. The company is committed to enhancing efficiencies in brewing and distribution, positioning itself as a unique player in the beverage industry.

Bartesian

Convertible Note in 2020
Bartesian Inc. is a manufacturer of a cocktail-making machine that enables customers to create customized, bar-quality cocktails at home using a capsule-based system. Founded in 2014 and headquartered in Chicago, Illinois, the company offers a robotic bartender that utilizes pre-mixed ingredient pods, allowing users to prepare a variety of cocktails, such as martinis and cosmos, at the press of a button. The machine combines alcohol, juices, bitters, and water from specialty pods, ensuring a seamless and authentic cocktail experience. Formerly known as MaxMixology Inc., the company adopted its current name in January 2015.

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.

Bartesian

Seed Round in 2019
Bartesian Inc. is a manufacturer of a cocktail-making machine that enables customers to create customized, bar-quality cocktails at home using a capsule-based system. Founded in 2014 and headquartered in Chicago, Illinois, the company offers a robotic bartender that utilizes pre-mixed ingredient pods, allowing users to prepare a variety of cocktails, such as martinis and cosmos, at the press of a button. The machine combines alcohol, juices, bitters, and water from specialty pods, ensuring a seamless and authentic cocktail experience. Formerly known as MaxMixology Inc., the company adopted its current name in January 2015.

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.

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.

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.

Sustainable Beverage Technologies

Series A in 2018
Sustainable Beverage Technologies Inc. is a Colorado-based company specializing in the production of beer and soda concentrates. The company utilizes its patented BrewVo brewing process to create carbonated beverages and wine products, which can be easily mixed with water and carbon dioxide for convenient consumption. This innovative approach is particularly designed for hikers and adventurers, allowing them to enjoy flavorful beer while on the go. Founded in 2010, Sustainable Beverage Technologies, previously known as Pat's Backcountry Beverages, also operates an online store selling branded merchandise such as water bottles, hats, and apparel. The company is committed to enhancing efficiencies in brewing and distribution, positioning itself as a unique player in the beverage industry.

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.

Drink Simple

Venture Round in 2017
Producer of packaged maple water, a natural drinking product derived from the sap of maple trees. It is infused with nutrients, contains naturally occurring electrolytes and prebiotics, has no added sugar, and is gluten- and dairy-free.

Drink Simple

Venture Round in 2015
Producer of packaged maple water, a natural drinking product derived from the sap of maple trees. It is infused with nutrients, contains naturally occurring electrolytes and prebiotics, has no added sugar, and is gluten- and dairy-free.
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