UChicago has once again backed the corner store operator, and the round was co-led by Almanac Insights and Monogram Capital Partners.

Foxtrot Market, a US-based convenience store and café operator, has raised $42m in series B funding from investors including University of Chicago. Almanac Insights and Monogram Capital Partners co-led the round, which also attracted Imaginary Ventures, Wittington Ventures, Fifth Wall, Lerer Hippeau, Revolution’s Rise of the Rest Seed Fund, M3 Ventures, Collaborative Fund, Wasson Enterprise, Bluestein Ventures, and Barshop Ventures as well as private investors. Foxtrot Market is building a network of brick-and-mortar stores that also offer online shopping and nationwide shipping for food products developed by chefs. Stores also offer a sommelier-curated wine selection and a full-service café. The series B round will allow Foxtrot to double the number of stores by the end of this year, with as many as nine stores in existing markets Chicago and Dallas. The company will also look to expand into additional geographies, including Washington DC. Foxtrot collected $17m in a February 2020 round co-led by Imaginary and Wittington Ventures, with contributions from University of Chicago, Fifth Wall, Lerer Hippeau, Revolution’s Rise of the Rest Seed Fund, M3 Ventures, Collaborative, Wasson Enterprise, Bluestein Associates and Barshop Ventures. University of Chicago had already contributed to a $6m series A round in 2018 that was led by Fifth Wall and also included Lerer Hippeau, Rise of the Rest Seed Fund, Collaborative VC, BoxGroup, Maveron and M3 Ventures. – Feature image courtesy of Foxtrot Market

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.



Not sure if you have a subscription?
Thierry Heles

Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).