The Wall Street Journal reports that "Campbell Soup Co. is investing $125 million in its own venture-capital project to fund food startups, a move to keep up with the small, entrepreneurial companies that are driving food trends in the US ... Campbell’s project, called Acre Venture Partners, is a Delaware-based limited partnership and will be run by an outside partner. A Campbell subsidiary will be the sole limited partner, and Jeff Dunn, head of Campbell’s fresh-food division, which includes Bolthouse Farms juices and Garden Fresh salsa, will be Campbell’s representative on the investment committee."
CEO Denise Morrison said that the move is necessary in view of the influx of venture capital disrupting the food industry; she says that "since 2010, about 400 food startups have received more than $6 billion in funding."
Similar moves have been made by companies that include Coca-Cola and General Mills.
CEO Denise Morrison said that the move is necessary in view of the influx of venture capital disrupting the food industry; she says that "since 2010, about 400 food startups have received more than $6 billion in funding."
Similar moves have been made by companies that include Coca-Cola and General Mills.
- KC's View:
- In my view, there is an essential truths about the future of competition - that in less than 10 years, whatever it is you do, you'll be facing competition from somebody or something that isn;t even on your radar today. Better to invest in innovative startups than to let them come back to haunt you.
