Starbucks will serve you a triple venti half-sweet non-fat caramel macchiato with a side of fresh funding. The Seattle-based coffee giant is investing $100 million in a new venture fund that will be managed by Valor Equity Partners. Valor, a Chicago-based growth equity firm, has backed companies such as Tesla, SpaceX, and Bird.
The new Valor Siren Ventures Fund is seeking to raise an additional $300 million from outside investors in the coming months. It will deploy capital to food and retail-focused startups.