American coffee chain, Starbucks Corporation has announced $100 million investment in Valor Siren Ventures (VSV) I L.P, a new venture fund from private equity investment firm Valor Equity Partners. The fund will serve as a growth driver for the next generation of food and retail start-up technology companies.
Managed by Valor Equity Partners, the new fund will identify and invest in companies that are developing technologies, products and solutions relating to food or retail. These verticals are increasingly relevant to Starbucks as it seeks to support its talent with an innovation agenda accelerated by external relationships.
The Starbucks $100 million cornerstone commitment to VSV 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 strategic partners and key institutional investors.
Separately, Starbucks will also explore direct commercial arrangements with these start-ups. Under the leadership of president and CEO, Kevin Johnson, Starbucks is growing with focus and discipline, embracing new ideas and innovations that are relevant to Starbucks customers, inspiring to its partners and meaningful to the business.
“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 flywheel,” said Johnson. “At the same time, and with an eye towards accelerating our innovation agenda, we are inspired by, and want to support the creative, entrepreneurial businesses of tomorrow with whom we may explore commercial relationships down the road. This new partnership with Valor presents exciting opportunities, not only for these start-ups, but also for Starbucks, as we build an enduring company for decades to come.”
“As experienced investors in food and retail technology, we are thrilled to partner with Starbucks, one of the most iconic and forward-thinking global brands. Under our partner Jon Shulkin’s leadership, we are incredibly excited to partner with Starbucks to drive innovation in the food and retail industries,” added Antonio J. Gracias, Valor’s founder, managing partner and chief investment officer.
J Lindeberg was started by Johan Lindeberg in 1990s with the aimSeptember 2, 2022 | By RetailME Bureau
Majid Al Futtaim has made significant strides toward environmental, social, and corporateJuly 5, 2022 | By RetailME Bureau
Abu Dhabi based grocery retail chain Lulu Group has partnered with Amazon
UAE-government-led initiative Food Tech Valley – announced in 2021 by His Highness
Abu Dhabi-based supermarket chain Lulu Hypermarket is all set to open in
Plant-based meat brand Beyond Meat’s financial results for the third quarter of
UAE’s fresh produce brand Barakat has launched bio-degradable packaging across its entire
UAE-based agritech start-up Pure Harvest Smart Farms has signed a Memorandum of
Carrefour, owned and operated by Majid Al Futtaim – Retail in the
Grandiose Supermarket, part of Ghassan Aboud Group, has announced expansion plan in
The Valrhona journey began 100 years ago with a cocoa bean. Since
Deliveroo UAE has announced the expansion of its rapid grocery delivery service
The Ministry of Climate Change and Environment (MOCCAE) revealed that the UAE
Hikina Restaurant has re-opened its doors at Lapita hotel located in Dubai
Okinawa in Japan happens to be a ‘blue zone’ – one of
Part of Sunset Hospitality Group Delizie Gourmet an artisanal café serving authentic
After opening two outlets in the UAE Dave’s Hot Chicken has entered
The Dubai Festivals and Retail Establishment (DFRE) has unveiled an exciting line-up
The d.ream Group (Dogus Restaurant Entertainment and Management) – behind Coya, Nusret
Premium café dining concept founded by Natasha Sideris tashas café has partnered
UAE-based premium casual dining restaurant Peppermill is all set to open its
South African confectionery brand 1701 has launched in the UAE in partnership
Popular restaurants Mythos Urban Greek Eatery and Nola Bijou Bistro & Bar,
Dubai-based Sunset Hospitality Group known for developing and operating high-end hospitality concepts
Bringing the taste of Anatolia to the region Turkish restaurant Kasibeyaz is