Kraft Heinz Announces Launch of $100 Million Venture Capital Fund
Kraft Heinz announces the launch of Evolv Ventures, a venture fund that will invest in emerging tech companies transforming the
food industry. Kraft Heinz has 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, 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.”
Pescatello brings more than a decade of successful venture investing experience at two leading venture funds to Kraft Heinz.
Most recently, he was a Partner at Lightbank, the Chicago venture capital fund founded by serial entrepreneurs Eric Lefkofsky and
Brad Keywell, and was also a founding member of the Peacock Equity Fund, a $250 million global capital fund of GE Capital and
NBCUniversal.
While Kraft Heinz has a long history of developing iconic brands including Philadelphia, Heinz and Oscar
Mayer, 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.”
Evolv Ventures will be based in Chicago.
About The Kraft Heinz Company
The Kraft Heinz Company (NASDAQ:KHC) is the fifth-largest food and beverage company in the world. A globally trusted producer of
delicious foods, The Kraft Heinz Company provides high quality, great taste and nutrition for all eating occasions whether at home,
in restaurants or on the go. The Company’s iconic brands include Kraft, Heinz, ABC, Capri
Sun, Classico, Jell-O, Kool-Aid, Lunchables, Maxwell House, Ore-Ida, Oscar
Mayer, Philadelphia, Planters, Plasmon, Quero, Smart Ones and Velveeta. The Kraft
Heinz Company is dedicated to the sustainable health of our people, our planet and our Company. For more information,
visit www.kraftheinzcompany.com.
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Kraft Heinz
Michael Mullen (media)
Michael.Mullen@kraftheinz.com
or
Christopher Jakubik, CFA (investors)
ir@kraftheinz.com
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