HomeUSAChipotle Mexican Grill Doubles Commitment to Cultivate Next Venture Fund to $100M

Chipotle Mexican Grill Doubles Commitment to Cultivate Next Venture Fund to $100M

Chipotle Mexican Grill

Newport Beach, CA-based Chipotle Mexican Grill (NYSE: CMG) announced it is increasing its commitment to its Cultivate Next venture fund by $50m, which brings the fund’s total investment pool to $100m.

Introduced in 2022 and led by Christian Gammill, Fund Manager, Cultivate Next will continue to pursue early-stage investments in supply chain, agriculture, restaurant innovation, automation, and other areas that support Chipotle’s mission to Cultivate a Better World and help accelerate the company’s longer term growth plans to operate 7,000 restaurants in North America.

To date, Chipotle has invested in a wide range of companies innovating in areas such as farming, supply chain, advanced robotics, and plant-based foods. The new $50m commitment will expand the company’s existing portfolio, which currently features:

  • Local Line, a local food sourcing platform for regional food systems, serving farms, producers, food hubs, and food buyers.
  • GreenField Robotics, a company founded with the vision of making regenerative farming more efficient, cost-effective, and sustainable by leveraging the latest advances in AI, robotics, and sensing technologies.
  • Nitricity, a company seeking to tackle greenhouse gas emissions by creating fertilizer products that are better for fields, farmers, and the environment.
  • Vebu, a product development company that works with food industry leaders to co-create intelligent automation and technology solutions.
  • Hyphen, a foodservice platform designed to help restaurant owners, operators, and budding chefs move their business forward by automating kitchen operations.
  • Meati Foods, which serves nutrient-dense whole-food products made from MushroomRoot™.
  • Zero Acre Farms, a food company focused on healthy, sustainable oils and fats that is on a mission to end the food industry’s dependence on vegetable oils.

Companies interested in collaborating with Chipotle through the Cultivate Next venture fund can apply by emailing cultivatenext@chipotle.com.  

Chipotle Mexican Grill had over 115,000 employees, and over 3,400 restaurants as of December 31, 2023, in the United States, Canada, the United Kingdom, France and Germany.

VCWire

28/02/2024