BATTLE CREEK – Kellogg Co. announced it has launched a $100 million Venture Capital fund – Eighteen94 Capital – to make minority investments in new ingredient, food, packaging and other technologies and “pursue next-generation innovation.”

In a statement, Kellogg said Eighteen94 Capital plans to target early stage companies with a proven track record and established revenue. But the statement went on to say the fund will remain open to other companies, regardless of stage.

“As consumer preferences move toward more diverse tastes and trends, the pace of innovation in the packaged food industry continues to intensify,” said Gary Pilnick, vice chairman of Kellogg. “By investing directly in the most promising entrepreneurs and ventures, we can increase greatly our access to game-changing ideas and trends that could become significant sources of growth for us.”

Ten-year Kellogg employee Simon Burton has been named managing director of the new fund. Kellogg also partnered with Los Angeles-based Touchdown Ventures to manage the fund. 

By establishing 1894, Kellogg joins competitors General Mills, Campbell Soup Co., and the Hain Celestial Group in launching  that have initiated similar endeavors within the past year.