The New York Times reports on how General Foods "is quietly establishing itself in venture capital, investing in some of the hottest new food companies." The company's latest investment is in Kite Hill, described in the story as a company that "makes versions of cheese and yogurt from nuts — no cows involved."
The $18 million investment, the Times writes, "is the fifth for 301, which General Mills established last fall out of its former new business development unit ... General Mills is not the only food company dabbling in venture capital. This year, Campbell put $125 million into an in-house venture capital business called Acre Venture Partners. And Unilever has long had a venture capital unit."
The $18 million investment, the Times writes, "is the fifth for 301, which General Mills established last fall out of its former new business development unit ... General Mills is not the only food company dabbling in venture capital. This year, Campbell put $125 million into an in-house venture capital business called Acre Venture Partners. And Unilever has long had a venture capital unit."
- KC's View:
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I think this is a very important approach for existing companies - big and small - to take, to find places where they can make canny and strategic investments that will fuel some level of innovation that they might not be able to muster internally.
This is something Tom Furphy and I spoke about a few weeks ago in "The Innovation Conversation" ... which you can read here.
