Bluestein Ventures, a pivotal Chicago-based venture capital firm specializing in the food and beverage sector, has successfully closed its third fund at an impressive $45 million, surpassing its target amidst a challenging investment climate. With a strategic focus on early-stage companies innovating within the nutrition, sustainability, and digitization realms of the food supply chain, this fund marks a significant milestone for Bluestein Ventures as it broadens its investment horizon.
Adding to its robust strategy, the firm is thrilled to welcome Lindsay Levin, former Chief Marketing Officer at RXBar, as a venture partner. Levin’s extensive experience in operations and marketing is poised to bolster the growth and operational efficiency of Bluestein Ventures’ growing portfolio, which includes over 50 companies revolutionizing various facets of the food industry.
Bluestein Ventures is committed to fostering a community within the food and beverage industry that encourages innovation and collaboration among startups. This commitment is reflected in the firm’s hands-on approach to supporting its portfolio companies, offering more than just capital by providing access to a network of industry experts, operational support, and marketing insights to ensure their growth and success. By creating a nurturing ecosystem for startups, Bluestein Ventures aims to accelerate the transformation of the food supply chain into a more sustainable, nutritious, and consumer-friendly landscape, highlighting the firm’s role not just as an investor but as a catalyst for industry-wide change.
Founded a decade ago by Managing Partner Andrew Bluestein, the firm has carved a niche for itself by tapping into the burgeoning consumer demand for health, wellness, and convenient food solutions facilitated by digital platforms. Bluestein’s keen insight into consumer trends and his prior experience consulting for retail and Consumer Packaged Goods (CPG) clients have been instrumental in shaping the firm’s investment thesis.
Bluestein Ventures’ deep-rooted family ties to the food industry, with key advisors including former Ingredion CEO Ilene Gordon, underscore the firm’s commitment to fostering a healthier and more sustainable food ecosystem. The introduction of Fund III, supported by both the Bluestein family and external family offices and entrepreneurs for the first time, signals a strategic expansion of the firm’s capacity to drive innovation across the entire food supply chain.
Among the promising ventures in Fund III’s portfolio are BiomeSense, WECO Hospitality, and Attane Health, each embodying the fund’s mission to transform the food system. With this new fund, Bluestein Ventures is set to continue its legacy of identifying and nurturing groundbreaking companies at the cusp of reshaping the global food landscape.
