General Atlantic is leading a $75 million Series B investment in Blank Street, valuing the fast-growing coffee and matcha chain at about $650 million.

The deal marks a significant jump from the company’s roughly $500 million valuation in 2025. Existing investors, including Left Lane Capital, General Catalyst and Tiger Global, also participated in the round, The Financial Times reported.

The funding highlights growing investor interest in physical retail as AI reshapes software and digital businesses. General Atlantic, which also owns juice-bar chain Joe & The Juice, is betting on continued growth in the out-of-home coffee and matcha market across the U.S. and the UK.

The company plans to use the new funding to expand into affluent areas of California, with stores planned for Beverly Hills, West Hollywood and Malibu. It also plans to broaden its menu with products such as ice cream, matcha and snacks to capture more afternoon and evening demand.

Founded in Brooklyn in 2020 by Vinay Menda, Issam Freiha and Ignacio Llado, Blank Street began as a single coffee cart and has since grown to more than 100 locations, primarily in New York and London.

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