Don Thompson, who retired as CEO of McDonald’s in March 2015, has returned to the food and beverage arena with a new venture capitalist firm and start-up accelerator, Cleveland Avenue.

Named for his childhood street in Chicago, Cleveland Avenue is set to officially open for business in late January 2017. It has been operating quietly for some time, however, having already acquired a stake in Washington D.C. fast-casual concept HalfSmoke, as well as other undisclosed investments.

The company’s first original project will be DRINK, a non-alcoholic bar set to open in New York City’s American Eagle Outfitters flagship store. DRINK is set to feature a rotating menu of fruit drinks and organic beverages developed by various entrepreneurs and start-ups; the location in New York will be the first of several planned locations.

Also under the Cleveland Avenue umbrella is the charity organization Cleveland Avenue Foundation for Education, a nonprofit chaired by Liz Thompson, Thompson’s wife. The foundation gives financial support to organizations that invest in mentoring, educational services and career assistance for students and young professionals of color.

Thompson remains bound by a non-compete agreement with McDonald’s until March 2017. He also still serves as a consultant for the fast food giant, having received $3 million for his services since his retirement.