Kraft Heinz is looking to revolutionise the food industry with the launch of Evoolv Ventures, a $100 million fund aimed at emerging food tech companies.
The fund will be led by venture investor Bill Pescatello who has spent over a decade of venture investing experience at two leading venture funds to Kraft Heinz.
“New technological innovations in the food industry create endless new opportunities to strengthen business models,” said Bernardo Hees, Kraft Heinz CEO.
“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.”
The new fund will accelerate the company’s exposure to emerging technologies and businesses, and better leverage its position in the industry.
“At Evolv Ventures, we will move beyond brands to have a committed first look at our industry’s most promising and disruptive tech-enabled companies,” said Pescatello.
“With the insights, data and access available at Kraft Heinz, we look to take full advantage of our unique position and be the foremost value-added investor in the space.”