Starbucks invests $100m in new fund to support food start-ups
Valor Siren Ventures will be managed by Valor Equity Partners
Starbucks is committing $100 million to a new investment fund, Valor Siren Ventures, which will partner with companies that are developing technologies, products and solutions in the food and retail space. The unit will be managed by investment firm Valor Equity Partners and will aim to serve as a growth driver for the next generation of food and retail start-ups.
The Starbucks $100 million commitment is the first of its kind for the company, and the new fund will seek to raise an additional $300 million in the coming months from other partners.
CEO Kevin Johnson, said "Starbucks is looking to grow with focus and discipline, embracing innovations that are relevant to its customers. We believe that innovative ideas are fuel for the future, and we continue to build on this heritage inside our company across beverage, experiential retail, and our digital flywhee".
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