France-based catering and facilities service provider Sodexo has launched a €50m ($53m) strategic venture capital fund that has just made its first investment.
The corporate venturing unit, named Sodexo Ventures, was created to target companies with high-growth potential in sectors aligned with Sodexo’s business activities, such as food technology, health and wellness, data, mobility and smart buildings.
Sodexo operates in 80 countries, serving an estimated 75 million consumers each day, offering catered food, home care and meal services for the elderly and infirm, and employee benefit administration for incentive schemes such as childcare vouchers.
The unit’s first deal is the investment of an undisclosed sum in Wynd, the France-based developer of a restaurant booking, ordering and payment platform. Sodexo aims to yse Wynd’s platform to create cross-channel consumer services that span table booking, payment, and coupon and loyalty programs.
Orange Digital, a subsidiary of telecommunications company Orange, and venture capital firm Alven Capital provided $7.8m in funding for Wynd in October 2015.
Michel Landel, Sodexo chief executive officer, said: “Sodexo Ventures will allow Sodexo to combine the agility and creativity of startups with the group’s investment capacity, expertise and international footprint to create even more value for our clients and consumers.”