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Kraft Heinz Starts Food Technology Vc Fund With $100M | Cmo Strategy

by adage.com posted 1week ago 9 views
Kraft Heinz Co. is joining the ranks of Big Food peers with a venture capital fund focused on concepts that are shaking up the food industry, such as supply chain technology and e-commerce.The packaged-food giant has committed $100 million to start a new firm called Evolv Ventures, which will invest in food technology companies. To lead the Chicago-based fund, Kraft hired Bill Pescatello, a founding member of Peacock Equity, an investment group put together by NBCUniversal and GE Capital. "There's a ton of disruption in the food industry driven by technology and new models," Pescatello said in an interview.

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