Venture capital: It’s not just for breakfast anymore. Or maybe it is, if you are one of the biggest cereal (and other foodstuff) makers in the world.
The New York Times reported Monday that General Mills has created a venture capital unit that aims to help take the old guard into the vanguard, with an eye on investing in health-conscious items and also broadening its online presence.
In one notable placement, according to The Times, the firm led a $3 million placement in Rhythm Superfoods, which is a food-centered startup that makes kale chips, among other items.
