Coca-Cola Creates Sustainability-Focused Venture Capital Fund

The Coca-Cola Company in partnership with venture capital firm Greycroft and eight bottling partners from around the world, announced the closing of a new, US$137.7 million venture capital fund focusing on sustainability investments.

The fund is the first of its kind for Greycroft, a seed-to-growth venture capital firm, that will manage the Greycroft Coca-Cola System Sustainability Fund.

The Coca-Cola system’s carbon footprint is a major priority for the fund, so it will focus on five key areas with the most potential impact to start which are:

  • Packaging
  • Heating and cooling
  • Facility decarbonization
  • Distribution
  • Supply chain

“This fund offers an opportunity to pioneer innovative solutions and help scale them quickly within the Coca-Cola system and across the industry,” said John Murphy, President and Chief Financial Officer of The Coca-Cola Company. “We expect to benefit from getting access to emerging technology and science for sustainability and carbon reduction.”

The fund’s US$137.7 million in capital comes primarily from US$15 million of committed capital from eight bottling partners who represent nearly half of Coca-Cola system volume around the world.

The Coca-Cola Company has already been active in pushing sustainability solutions in Asia where for example in the Philippines, Coca-Cola Beverages Philippines and Indorama Ventures invested in PETValue, the largest PET recycling plant in the country, while in Indonesia, Coca-Cola Europacific Partners and Dynapack invested in the Amandina PET recycled content production facility.

In Australia, as part of a cross-industry partnership with Cleanaway, Asahi Beverages, and Pact Group, CCEP has invested in PET plastic recycling and production facilities, and in Hong Kong Swire Coca-Cola has invested in establishing the first food-grade ready plastic recycling facility.