In Illinois, Kraft Heinz launched the $100 million Evolv Ventures fund to invest in emerging tech companies that are transforming the food industry and to better leverage its position in the industry.
“New technological innovations in the food industry create endless new opportunities to strengthen business models,” said Bernardo Hees, Chief Executive Officer at 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.”
Kraft Heinz brought on venture investor Bill Pescatello to lead the fund. “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.”