The Seattle Headquarters Global Coffee Beemoth committed $ 100 million to Valor Siren Ventures I LP, a new fund aimed at "identifying and investing in companies developing technologies, products and solutions related to food or retail."
"We believe that innovative ideas are fuel for the future, and we continue to build on this legacy within our company across beverages, experience trading, and our digital flywheel," said CEO Kevin Johnson in a statement. aiming to accelerate our innovation agenda, we are inspired by and want to support tomorrow's creative, entrepreneurial activities with whom we can explore commercial relationships down the road. "
The fund, which is expected to increase another $ 300 million from investors, is headed by Chicago based private equity firm Valor Equity, a well-known investor in food technology.
Valor's investment strategy uses the company's operational and technical expertise to accelerate growth, and some of the companies Valor has worked with include goPuff, Fooda and Sizzling Platter.
Starbucks, who opened its 30,000 store this week, arranged its largest annual general meeting Tuesday
<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Julia La Roche is a financial reporter at Yahoo Finance. Follow her on Twitter. "data-reactid =" 21 "> Julia La Roche is Finance Minister at Yahoo Finance. Follow her on Twitter.