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Big Food talks VC arms

John Haugen on the strategy behind General Mills’ investment arm 301 Inc. – interview

John Haugen on the strategy behind General Mills’ investment arm 301 Inc. – interview

Last year, General Mills announced it was refocusing innovation unit 301 Inc. from developing in-house brands to centre on providing capital to emerging food brands and create "breakthrough innovation in the food space". Since then the unit has made two significant investments with plant-based snacks firm Rhythm Superfoods, and this month, cottage cheese maker Good Culture. In a two-part interview with Hannah Abdulla, 301 Inc.'s VP and general manager John Haugen tells us what prompted these investments and more about the direction in which the investment vehicle is headed.