Starbucks announced it will commit $100 million to Valor Equity Partners, which has established Valor Siren Ventures, a $400 million fund to explore new ideas and retail technologies “relevant to customers, inspiring to partners [employees], and meaningful to Starbucks business.”
Valor has long focused on consumer food and technology. Investments include restaurant chains WowBao, Fooda, and Eatsa as well as foodservice companies and Tesla.
Kevin Johnson, president and c.e.o. of Starbucks, in a statement said “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 startups but also for Starbucks, as we build an enduring company for decades to come,” he said.
“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,” he said.
In recent years several food companies including Tyson Foods, General Mills, PepsiCo, and Kellogg’s also contributed to venture funds.