Vevey-based global food behemoth Nestlé revealed this week that the Venture Capital Fund that was outlined during its 2001 autumn press conference has now been created and is fully operational.
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The Swiss domiciled fund, Life Ventures by Nestlé, will have a capital of up to €150m (US$131.7m). Inventages Ventures Capital GmbH, an independent company directed by Dr Gunnar Weikert, will manage the fund.
Nestlé explained that the objectives of the fund are to provide it with a better access to new science, technology and know-how opportunities, through acquisitions, minority stakes, licensing and joint ventures.
The fund will focus especially on life sciences (food and nutrition in general, health-enhancing food, agricultural biotechnology), as well as commercial applications, such as consumer relation management, food processes and packaging technologies.
Investing worldwide, the fund’s objective is also to provide long-term capital growth and to have relevant R&D projects developed in form of start-ups, especially those that are of a high-risk nature or do not fit the group’s strategic priorities.
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