Kraft Heinz Starts Food Technology VC Fund With $100 Million

Kraft Heinz Co. is now joining the ranks of Big Food peers. It was always one of the famous entities out there. Now with a venture capital fund focused on concepts that are shaking up the food industry, such as supply chain technology and e-commerce will eventually give it a better reputation. This means consumers can now obtain good products from the packaged-food giant. This firm has now committed $100 million USD to begin a new firm called Evolv Ventures. The company is created in order to invest in food tech companies. Bill Pescatello is now hired by Kraft to lead the Chicago based fund. Bill was a founding member of Peacock Equity, which is an investment group that was put together by NBCUniversal and GE Capital.

"There's a ton of disruption in the food industry driven by technology and new models," said Bill in an interview. The new company - Evolv will be focusing on startups that are working on supply chains, logistics, e-commerce, and direct-to-consumer projects. Bill made it clear on the purpose of the company and this is something which is of great news. Kraft Heinz’s first fund also has a division called Springboard. This is nurturing upstart brands that are on the lookout for opportunities.