Deals
Billionaire Bets on Australian-Style Coffee and Avocado Toast
- Investment being made out of RSE Ventures, Ross’s private firm
- Sternlicht and Marks family offices are among other investors
Billionaire Stephen Ross, the chairman of Related Cos. and owner of the Miami Dolphins, is betting that avocado toast and Australian coffee aren’t just fads.
RSE Ventures, a fund that invests on behalf of Ross, is leading a fundraising round in which it’ll acquire a significant minority stake in Bluestone Lane, said Nicholas Stone, founder and chief executive officer of the Australian-style coffee and cafe brand. Other new investors include March Capital Partners’ Jamie Montgomery. Returning backers include Barry Sternlicht’s family office JAWS and Jason Wright of Apax Partners.