Nestle venture capital fund up and running - Company News - Brief Article

Eurofood, March 14, 2002

Swiss food and beverage giant Nestle has announced that the venture capital fund which was outlined towards the end of 2001, has now been created and is fully operational.

The fund, "Life Ventures by Nestle", will have a capital of up to 150m [euro]. It will be managed by an independent specialised company directed by Dr. Gunnar Weikert.

The objectives of the fund are to provide Nestle with a better access to new science, technology and know-how opportunities, through acquisitions, minority stakes, licensing and joint ventures. The fund will look especially at life sciences (food and nutrition in general, health-enhancing food, agricultural biotechnology), as well as commercial applications, such as consumer relation management, food processes and packaging technologies.

Investing worldwide, the fund's objective is also to provide long-term capital growth and to have relevant research and development projects developed in form of start-ups, especially those that are of a high-risk nature or do not fit its strategic priorities