Kraft Heinz launches $100 million venture capital fund
The fund will invest in emerging tech companies transforming the food industry.
Kraft Heinz Co., headquartered in Chicago and Pittsburgh, said it launched Evolv Ventures, a venture fund that will invest in emerging tech companies transforming the food industry. Kraft Heinz committed up to $100 million to Evolv Ventures and brought on venture investor Bill Pescatello to lead the fund.
“New technological innovations in the food industry create endless new opportunities to strengthen business models,” said Bernardo Hees, CEO of Kraft Heinz. “Through Evolv Ventures, we will work with tomorrow’s most innovative founders and companies in the space, and use the full resources of Kraft Heinz to help them succeed.”