- Kellogg (NYSE:K) announces it will invest in next-gen innovation through a venture capital fund called Eighteen94 Capital.
- The VC arm will invest $100M initially as it plays a role in Kellogg's 2020 growth strategy.
- "By investing directly in the most promising entrepreneurs and ventures, we can increase greatly our access to game-changing ideas and trends that could become significant sources of growth for us," said vice chairman Gary Pilnick.
- 1894 will be managed by Simon Burton, a 10-year exec at Kellogg.