PITTSBURGH & CHICAGO (BUSINESS WIRE) — Evolv Ventures, the $100 million venture fund backed by Kraft Heinz, on Thursday announced GrubMarket as its first investment. GrubMarket is a platform that sources local food directly from producers and delivers it directly to businesses and consumers. Terms of the agreement were not released.
“We’re excited to invest in GrubMarket, a platform that is disrupting the food wholesale market,” said Steve Sanger, General Partner of Evolv Ventures. “GrubMarket plans to grow its presence and product offerings through both geographic and product expansion. Evolv Ventures is pleased to support its innovative founders.”
Since Evolv Ventures announced the formation of the fund in October 2018, the fund has quickly established itself by hiring an experienced team of investors and entrepreneurs and is actively working and investing with leading companies in the space, such as GrubMarket.
ABOUT EVOLV VENTURES
Evolv Ventures Capital Fund is a $100 million venture fund backed by Kraft Heinz that will invest in emerging tech companies transforming the food industry. The venture fund aims to accelerate Kraft Heinz’s exposure to emerging technologies and businesses and leverage Kraft Heinz’s position in the industry to become the most value-added investor in the space. To learn more, visit http://www.evolv.vc or follow us on LinkedIn and Twitter.
ABOUT THE KRAFT HEINZ COMPANY
For 150 years, Kraft Heinz has produced some of the world’s most beloved products at The Kraft Heinz Company (NASDAQ: KHC). Kraft Heinz’s vision is To Be the Best Food Company, Growing a Better World. Kraft Heinz is one of the largest global food and beverage companies, with 2018 net sales of approximately $26 billion. Kraft Heinz’s portfolio is a diverse mix of iconic and emerging brands. As the guardians of these brands and the creators of innovative new products, Kraft Heinz is dedicated to the sustainable health of our people and our planet. To learn more, visit http://www.kraftheinzcompany.com/ or follow us on LinkedIn and Twitter.