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If the name Nestle conjures up dreams of sweet chocolate, you are in the right category, for sweet doings are going on in Switzerland.
Nestle is the world's largest food company. It is the home of KitKat chocolate bars, Purina pet food and Perrier bottled water, among other well known brands. As selling items like frozen convenience food has become less profitable, Nestle is trying to tap into the growing demand for healthier foods.
And they are backing up their efforts with a $500,000,000 venture capital fund (yes, that is five hundred million dollars)!
Since 2002, Nestle has been linked to the Inventages Fund, which makes equity investments in start-ups and academic projects with en eye to buying the technology. Nestle's new fund appears to go one step further by planning to acquire the companies themselves. Nestle may also buy patents from universities or other research institutes and look to market those into consumer products.
At the moment, Nestle's nutrition division accounts for only about five percent of its business. This new venture capital fund should skyrocket that figure in no time.
Nestle is accustomed to working with startups, so this is an unprecedented opportunity for all levels of business.
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