Bluestein Ventures, a Chicago-based early-stage venture capital firm, has secured $45 million in capital commitments for its Fund III, demonstrating its commitment to driving innovation in the food tech sector despite broader VC trends.
Steady Growth in Food Tech Investment
While overall venture capital investment in food tech may have experienced a decline, Bluestein Ventures remains undeterred. Founded by Andrew Bluestein in 2014, the firm has steadily expanded its portfolio, focusing on consumer-facing technology throughout the food supply chain.
Portfolio and Investment Strategy
Bluestein Ventures targets companies at pre-seed to Series A stages, with a portfolio comprising over 50 companies spanning health and wellness, proprietary food tech, commerce, and digital technology. Previous investments include Factor75, Foxtrot, FourKites, Meati, and New Culture.
Family Anchors and External Investors
The first two funds were anchored by the Bluestein Family, including former Ingredion CEO Ilene Gordon and firm advisor Bram Bluestein. Fund III marks the first inclusion of external investors, including strategics, additional family offices, and industry executives.
Strategic Partnerships and Team Expansion
Lindsay Levin, former CMO at RXBAR, joins Bluestein and Hartman as a venture partner. This strategic addition reflects the firm’s commitment to leveraging industry expertise and expanding its investment reach.
Focus Areas and Future Prospects
Bluestein Ventures plans to deploy Fund III into 20-25 companies, with a focus on nutrition, sustainability, and digitization. The firm anticipates accelerating innovation in response to evolving consumer preferences and advancing technologies like AI, machine learning, and synthetic biology fermentation.
Transforming the Food System
With a process-driven investment approach spanning the food supply chain, Bluestein Ventures aims to drive transformative change within the food system. Fund III underscores the firm’s dedication to nurturing early-stage innovation that addresses critical challenges in nutrition, sustainability, and digitization.
