Kraft Heinz initiates $100 million venture capital fund

The Kraft Heinz Co. has launched a Chicago-based $100 million venture capital fund, known as Evolv Ventures. The fund will be investing in emerging technology startups that are working on supply chains, logistics, e-commerce and direct-to-consumer projects to transform the food industry. Bill Pescatello, a venture investor and a founding member of Peacock Equity, will lead the fund.