Starbucks Corporation (NASDAQ: SBUX) made a $100m cornerstone commitment to the new Valor Siren Ventures I L.P.
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.
Separately, Starbucks will also explore direct commercial arrangements with these startups.
The vehicle will now seek to raise an additional $300m in the coming months from other strategic partners and key institutional investors.
Led by Antonio J. Gracias, Founder, Managing Partner, and Chief Investment Officer, Valor is an operational growth investment firm focused on control and non-control investments in high-growth companies across various stages of development. The firm has worked with companies, principally in the consumer, engineered products, and services sectors in its over 20-year history. Examples of investments in the food and retail technology space include goPuff, Fooda and Sizzling Platter, to name a few.