Germany-listed food delivery service Delivery Hero has committed €50m ($61m) to set up an independently-managed, early-stage corporate venture capital firm called DX Ventures.
Founded in 2011, Delivery Hero operates in more than 700 cities across about 50 countries spanning Asia, Europe, Latin America, the Middle East and North Africa.
DX Ventures will invest in sectors including on-demand services, food technology, sustainable innovation, artificial intelligence, financial technology and logistics.
Delivery Hero has been investing for a few years and the fund will manage an existing portfolio featuring on-demand delivery services Rappi and Glovo, meat-free food producer Impossible Foods, food delivery platform Zomato and ride hailing service Ola – all unicorns – as well as Ritual, Bio-lutions, Just and Wisefood.
Duncan McIntyre (pictured), DX Ventures’ managing director, is the former head of global strategy for Delivery Hero. He said: “Being a family of founders, investing in entrepreneurship is an integral part of Delivery Hero’s journey. We understand the opportunities and challenges these startups are facing because we have gone through them ourselves.
“Delivery Hero has built a strong track record of investing in leading technology companies and gained a deep understanding of the global delivery and food industries. We pride ourselves on being able to offer support to founders and the companies we invest in and guide them on their path to lasting success.”
Photo of Duncan McIntyre courtesy of LinkedIn.
