The fund will initially focus on five key areas with the most potential to reduce the carbon footprint across the Coca-Cola system, which is a key priority. These include:
- Packaging
- Heating and cooling
- Facility decarbonisation
- Distribution
- Supply chain
Greycroft, a seed-to-growth venture capital firm, will manage the Greycroft Coca-Cola System Sustainability Fund. The fund is the first of its kind for Greycroft, presenting an attractive opportunity to help scale innovations alongside some of the top bottling operations in the world.
The fund will complement CCEP’s existing venture capital fund CCEP Ventures, which focuses on early stage businesses, by investing in companies at the point of commercialisation.
The bottlers involved represent nearly half of Coca-Cola system volume around the world, with each having contributed $15 million towards the $137.7 million fund:
- The Coca-Cola Company
- Arca Continental
- Coca-Cola Bottling Co. UNITED
- Coca-Cola Consolidated
- Coca-Cola Europacific Partners
- Coca-Cola FEMSA
- Coca-Cola Hellenic Bottling Company
- Reyes Coca-Cola Bottling
- Swire Coca-Cola
