Ventoux CCM and Presto Automation Announce $100 Million Raise, Revised Valuation
Summary
“ We believe the additional capital provides a powerful vote of confidence in the business combination and will give Presto all the tools needed for an excellent start in its public life. 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 market. Cleveland Avenue has tremendous experience investing in innovative food and technology brands and restaurant operation platforms with an impressive portfolio that includes Beyond Meat, Footprint and Farmer’s Fridge. However, Ventoux, Presto, and certain of their directors and executive officers may be deemed to be participants in the solicitation of proxies in connection with the proposed business combination under the rules of the SEC. Such forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control.
Funding
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