Participated · Series C · Jan 2022

Foxtrot reimagines the corner convenience store by pairing a digital-first commerce platform with curated retail locations offering coffee, ready-to-eat cafe meals, wine and locally sourced artisan products. The company has added private-label products that now account for about 30% of its retail assortment and nearly half of its retail and e-commerce sales, and it expects to launch roughly 200 new private-label SKUs next year. Foxtrot provides five-minute pickup, rapid on-demand delivery, and a nationwide Foxtrot Anywhere shipping tool, and it operates a Perks loyalty program that grew more than 110% in 2021. The business doubled last year, with five-minute market pickup up 250% and cafe orders up 375% in the same period. Foxtrot plans to expand its physical footprint aggressively—opening 25 new stores in 2022 and targeting 50 new retail locations over the next two years while entering new markets such as New York, Nashville and Miami in 2023. The company is also investing the new capital to scale merchandising and triple its engineering team, plus hire across logistics, store payments, inventory management, personalization and Perks. Foxtrot Market operates tech-enabled neighborhood corner stores and cafés that combine grocery staples, a full-service café, sommelier-curated wine, chef-prepared meals, and curated gift bundles with on-demand app delivery (60-minute). The company also offers a Ship Shop for nationwide gift shipping and has recently launched nationwide shipping. Led by CEO and co-founder Mike LaVitola and a senior team including Sumi Ghosh, Scott Holloway, and Caroline Barry, Foxtrot emphasizes private-label packaged goods and curated retail experiences. The business integrates in-store experience with app-based delivery and curated product offerings to serve modern urban consumers. Foxtrot plans to use new capital to expand its private-label goods and gift offerings, continue investment in nationwide shipping, and open as many as nine additional stores across Chicago and Dallas while entering new markets including Washington, D.C. The company raised growth capital in a Series B to fund these expansion and product initiatives. Foxtrot reimagines the corner convenience store by combining physical retail with app-based on-demand delivery of a broad product mix including craft beer, natural wines, national brands and Foxtrot-label prepared foods. The company works with more than 100 vendors to offer roughly 800 SKUs across its stores and online. Foxtrot’s assortment is roughly one-third proprietary Foxtrot products, one-third emerging brands and one-third staple national brands. It operates stores in Dallas and Chicago and plans to expand further in those markets and launch in D.C. The business reports 2x year-over-year revenue growth and 150% year-over-year growth in its e-commerce customer base, with revenue split about 50/50 between offline and online sales. Store staff are W2 employees while couriers are contractors employed directly by Foxtrot according to the company’s practices. Foxtrot is a Chicago-based next-generation corner store combining e-commerce with a curated in-store experience, offering craft beer, wine, spirits, food, gifts and everyday essentials. Led by co-founder and CEO Michael LaVitola, the company delivers orders to customers' homes in 60 minutes. The team prioritizes local products and integrations, and a significant portion of Foxtrot's inventory comes from local purveyors. Foxtrot secured $6m in Series A funding to support growth. The company plans to use the funds to grow the team, expand its on-demand e-commerce delivery business, open additional retail stores in Chicago later in the year and pursue national expansion in early 2019, and to partner with large owners and operators of real estate to provide a curated amenity to neighborhoods and buildings. Foxtrot is a curated delivery company that launched out of the University of Chicago's New Venture Challenge in 2013 and combines an on-demand mobile ordering app with brick-and-mortar stores. Its product offering is a limited, curated selection — including beer and wine, dinners, bath accessories, and gifts — delivered via an app and supported by physical retail locations. Earlier this year Foxtrot opened its first store in Lincoln Park; it announced a flagship 1,700 square-foot West Loop location at 1019 W. Lake St. that will host local partner events and open on November 16. The company raised $1.1M in funding alongside the West Loop store announcement, with investors including ChicagoNEXT chairman Mark Tebbe, Apex Venture Partner general partner Lon Chow, and TrunkClub CFO and co-founder Kevin Price. Foxtrot positions itself as an omni-channel retail concept that leverages scalable retail stores alongside mobile ordering to own the end-to-end delivery experience and differentiate from broader delivery apps. CEO and co-founder Michael LaVitola said the flagship brings the curated app experience to life and supports plans to grow in Chicago and beyond.

Participated · Series B · Jan 2020

Gathered Foods is an Austin, Texas–based maker of plant-based seafood products under the Good Catch brand. Its portfolio includes single-serve ready-to-eat pouches of Plant-Based Tuna and frozen products such as Plant-Based Fish Burgers, Plant-Based Crab Cakes, and Plant-Based Fish Cakes. Products are available across the U.S., in the U.K. through a partnership with Tesco, in Canada via Loblaws and Sobeys, and in Europe through retailers in the Netherlands and Spain. The company is working with key European distributors and pursuing strategic retail and foodservice partnerships to expand availability globally. Gathered Foods intends to use the funds from its latest bridge round to ramp up product innovation and increase the number of products on the market. The company plans to extend its international retail footprint beginning in Europe, with further expansion planned for later in 2021. Gathered Foods is a NYC-based food tech company that makes Good Catch® plant-based seafood products. Its inaugural offerings use a proprietary six-legume blend (peas, chickpeas, lentils, soy, fava beans and navy beans) developed by founding chef partners Chad and Derek Sarno. All Good Catch products are free of dairy, GMOs, mercury, toxins, microplastics and microfibers and are safe for those with shellfish allergies. The company currently sells Plant Based Fish-Free Tuna in three flavor offerings and its products are available in over 4,500 U.S. retail outlets, with a UK launch planned. Gathered Foods plans to use recent funding to expand distribution across North America, Europe and into Asia, to open a manufacturing facility, and to introduce new products and foodservice channels in early 2020. The company is led by CEO and co-founder Chris Kerr. Gathered Foods makes Good Catch plant-based seafood products, chiefly a tuna alternative. Its Good Catch tuna is sold in 3.3-ounce pouches in three flavors, contains 14 grams of protein, and has an RRP of $4.99. The company is developing a $20 million manufacturing facility in Ohio to scale production of plant-based proteins and meet predicted demand, with completion targeted by the end of this year. The Ohio plant will support production of its plant-based tuna and additional seafood innovations, including vegan “crab” cakes and fish-free “whitefish” burgers planned for spring next year. To fund the new production plant, Gathered Foods closed a $10 million convertible note round co-led by New Crop Capital and Stray Dog Capital. CEO Chris Kerr said the company and its partners are confident about the future of plant-based protein.

Participated · Equity · Feb 2019

Founded in 2015, Good Culture is an Austin-based food company focused on reinventing cultured dairy with a clean-label, high-protein product line that includes cottage cheese, sour cream, and cream cheese. The products are sourced from family-farmed cows and purposely exclude artificial additives or stabilizers. The brand positions itself around sustainability, holding B-Corp Certification and partnering with organizations such as 1% for the Planet and Dairy Farmers of America. Having helped rejuvenate the cottage-cheese category, the company aims to broaden its reach and deepen consumer adoption across North America. Future plans involve accelerating product innovation and expanding distribution channels. Good Culture’s mission centers on delivering nutritious, minimally processed dairy while maintaining environmental responsibility. While no revenue or user figures were disclosed, the company’s continued backing from growth-oriented investors underscores its market traction and momentum.

Participated · Equity · Jun 2018

HeatGenie is an Austin, Texas-based self-heating beverage technology company led by CEO Mark Turner. The company has developed a patented heater that integrates into standard beverage cans, enabling consumers to heat drinks on the go. HeatGenie’s technology is designed to be incorporated into beverage packaging and sold in partnership with beverage brands. The company raised $6M and intends to use the funds to complete product development and move into commercialization. HeatGenie plans to work directly with beverage brands to launch its integrated self-heating packaging in the marketplace. The recent financing is intended to support the transition from development to commercial rollout. Heat Genie develops a self-heating technology designed to revolutionize food packaging and streamline food prep time. The technology enables companies to package offerings in containers that self-heat, providing on-the-go convenience for consumers. According to the company, contents can be heated in less than two minutes with the push of a button located on the lightweight packaging. Heat Genie says the materials used are safe and recyclable. The product targets food companies seeking to offer quick, portable heated meals. The article reports that Heat Genie closed a $2.36 million funding round through equity crowdfunding.