Kraft Heinz to launch new venture capital fund


Kraft Heinz has invested $100 million to establish Evolv Ventures, a venture fund that will invest in emerging tech companies that are transforming the food industry.


Evolv Ventures will be based in Chicago, and the new fund will accelerate the company’s exposure to emerging technologies and businesses, and better leverage its position in the industry.


Venture investor Bill Pescatello has been chosen to lead the fund, and he brings over a decade of venture investing experience to the new unit.


Pescatello most recently served as a partner at Lightbank, a Chicago-based venture capital fund and was also a founding member of GE Capital and NBCUniversal’s Peacock Equity Fund.

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