The cereal producer has founded a corporate venturing unit named Eighteen94 Capital that will fund food, ingredients, packaging and enabling technology startups.

US-headquartered food producer Kellogg launched a $100m corporate venturing fund called Eighteen94 Capital (1894) yesterday that will invest in strategically beneficial startups.

Target areas for 1894 include companies developing innovative foods, ingredients, packaging and food enabling technology. Kellogg said in a statement it will provide “approximately $100m” for the fund, which will also work with the company’s organic cereals subsidiary, Kashi.

Simon Burton, Kellogg’s vice-president of investor relations, will head the fund as managing director while venture capital firm and…