Kellogg Forming a Venture Arm With $100 Million Fund

Kellogg Company is creating a venture capital arm, called eighteen94 capital, to make investments in emerging food, ingredient and packaging companies, Kellogg said Monday. The venture arm plans to invest about $100 million and the company said investments will be important for Kellogg's 2020 growth goals. The venture arm will invest at any stage of a company but will "emphasize" early stage ventures that have initial revenue. Simon Burton, an executive at Kellogg, will be managing director of the fund and Touchdown Ventures will assist with the fund management. Shares of Kellogg were up 2% in premarket trade Monday.