Finance, Industrial - July 13, 2023
Coca-Cola Launches Sustainability-Focused Venture Capital Fund
The Coca-Cola Company and eight global bottling partners announced the closing of a new $137.7 million venture capital fund that focuses on sustainability investments.
A seed-to-growth venture capital firm, Greycroft, will manage the Greycroft Coca-Cola System Sustainability Fund.
A major priority for the fund is Coca-Cola's carbon footprint. The fund will focus on areas that will have the most potential impact, including packaging, heating and cooling, facility decarbonization, distribution and supply chain.
“This fund offers an opportunity to pioneer innovative solutions and help scale them quickly within the Coca-Cola system and across the industry,” said John Murphy, President and Chief Financial Officer of The Coca-Cola Company in a statement. “We expect to benefit from getting access to emerging technology and science for sustainability and carbon reduction.”
The fund will seek to invest in companies at the point of commercialization.
The fund’s $137.7 million in capital comes primarily from $15 million of committed capital from each of the following companies that represent nearly half of Coca-Cola system volume around the world:
- The Coca-Cola Company
- Arca Continental
- Coca-Cola Bottling Co. UNITED
- Coca-Cola Consolidated
- Coca-Cola Europacific Partners
- Coca-Cola FEMSA
- Coca-Cola HBC
- Reyes Coca-Cola Bottling
- Swire Coca-Cola