Chilean food processing company Carozzi launched a $6M corporate venture capital fund (CVC) to invest primarily in the agritech, foodtech, supply chain, manufacturing, and pet care sectors over the next three years.
Emprende tu Mente‘s RocĂo Fonseca, Aurus‘ Lorena GonzĂĄlez, and Carozzi’s JosĂ© Manuel Muñoz and Pedro FernĂĄndez will form the investment committee.
âCarozzi will focus on sectors that are often overlooked by traditional venture capital funds because they arenât seen as attractive. While these are the primary focus areas, Carozzi remains open to other industries if they bring value to the company,â said Gerardo Zañartu, Carozziâs CVC Manager.
The CVC plans to invest in three startups annually, with ticket sizes ranging from $300K to $1M. It will focus on companies in the pre-seed to Series A stages, primarily within the agritech, foodtech, supply chain, manufacturing, and pet care sectors. Carozzi will cap its equity stake at 10%, while startups will gain the chance to validate their projects through Carozzi’s operations and tap into its distribution networks.
Read more on El Mercurio.
