Kraft Heinz: sets up 100 million dollar venture capital fund
(CercleFinance.com) - Kraft Heinz has said it is setting up a venture capital fund that plans to invest in emerging tech companies in the food industry.
The US consumer goods giant has committed up to 100 million dollars to the fund, which will be called "Evolv Ventures" which and will be led by veteran investor Bill Pescatello, the company said in a statement.
Pescatello was the founding member of the Peacock Equity Fund, a 250 million dollar capital fund of GE Capital and NBCUniversal.
The fund will help the maker of Philadelphia cream cheese and Heinz tomato ketchup to accelerate its exposure to emerging technologies and businesses, and better leverage its position in the industry, Kraft Heinz said Friday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The US consumer goods giant has committed up to 100 million dollars to the fund, which will be called "Evolv Ventures" which and will be led by veteran investor Bill Pescatello, the company said in a statement.
Pescatello was the founding member of the Peacock Equity Fund, a 250 million dollar capital fund of GE Capital and NBCUniversal.
The fund will help the maker of Philadelphia cream cheese and Heinz tomato ketchup to accelerate its exposure to emerging technologies and businesses, and better leverage its position in the industry, Kraft Heinz said Friday.
Copyright (c) 2018 CercleFinance.com. All rights reserved.