Steve Grzanich has the business news of the day with the Wintrust Business Minute.
There’s a new venture capital fund in Chicago raising money for restaurant industry startups. The Emerging Fund was launched earlier this year to raise $100 million for investments in restaurant tech and restaurant and entertainment concepts. It’s raised $52 million already. The fund’s CEO tells Chicago Inno people don’t want a two-hour meal anymore, they want dining plus entertainment. The Emerging Fund has made 10 investments so far, including five in restaurant tech companies and five in early-stage concepts. It’ll make 20 to 25 initial investments.
Also, Chicago’s mayor will join striking United Auto Workers on the picket line this weekend at the Ford Assembly plant on the city’s south side.