Evolv Ventures will be headed by ex-Lightbank partner Bill Pescatello and will fund startups developing technology for the food industry.
US-based packaged food producer Kraft Heinz has launched a strategic investment known as Evolv Ventures that will be equipped with up to $100m from its parent.
The fund will be headed by Bill Pescatello as managing partner. Pescatello was hired from venture capital firm Lightbank, where he had been a partner since 2011, overseeing investments in portfolio companies including Udemy, Fooda and Ovia Health.
Evolv Ventures will target developers of e-commerce, logistics and supply chain technology as well as direct-to-consumer…
