Technology/Services

Starbucks Invests $100M in New Fund to Fuel Food and Retail Startups

Valor Siren Ventures managed by firm that has previously invested in Tesla, SpaceX, Eatsa and other high-tech companies
Photograph: Shutterstock

SEATTLE — Starbucks is putting $100 million into a new fund to develop food and retail startups, the coffee giant has announced.

The fund, Valor Siren Ventures, will be managed by Chicago-based Valor Equity Partners, which has previously invested in Tesla, SpaceX, Eatsa, Fooda and numerous other tech-enabled endeavors.

The new fund seeks to raise an additional $300 million in the coming months from strategic partners, Starbucks executives said.

It’s the first time the Seattle-based coffee company has invested in a fund like this, and the move fits with CEO Kevin Johnson’s recent tech-focused initiatives, including the announcement that Starbucks is focusing on technology to reimagine the customer experience.

“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,” Johnson said. “At the same time, and with an eye toward 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 startups but also for Starbucks as we build an enduring company for decades to come.”

Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.

Multimedia

Exclusive Content

Mergers & Acquisitions

2023 Top 202: The Calm Before the Storm

Smaller acquisitions in 2022 turned into a deluge in the 1st half of 2023 and uncertainty looking forward

Company News

Layoffs Part of Couche-Tard’s Cost Control Efforts

Ongoing business review drives hundreds of staff reductions

Snacks & Candy

How to Incent Impulse Purchases

‘There are rays of hope, and there are a lot of them,’ according to industry expert Leigh O’Donnell

Trending

More from our partners