In California, fast-casual burrito chain Chipotle has expanded its Cultivate Next venture fund by $50 million. The fund, which now totals $100 million, focuses on early-stage investments in agriculture and restaurant supply chains.
Notably, the fund has invested in Zero Acre Farms, a fermentation-based cooking oils startup. Chipotle is currently testing the use of Zero Acre Farms’ oils at an Irvine, California location.
“Our decision to double our commitment to our Cultivate Next venture fund is a clear indicator that we are investing in the right companies that we can learn from and utilize to improve the human experience of our restaurant teams, farmers, and suppliers,” Curt Garner, Chipotle’s chief customer and technology officer, told vegconomist.