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Benzinga

Business

Shivani Kumaresan

Chipotle Mexican Grill Launches $50M Venture Fund

Chipotle CMG Chipotle Mexican Grill Inc. NYSE

Chipotle Mexican Grill Inc (NYSE:CMG) said it is launching a new venture, Cultivate Next, with an initial size of $50 million.
Cultivate Next aims to support Series B stage companies that can accelerate its priorities like running restaurants and amplifying technology and innovation.
"We are exploring investments in emerging innovation that will enhance our employee and guest experience, and quite possibly revolutionize the restaurant industry," said Curt Garner, Chief Technology Officer, Chipotle.
Price Action: CMG shares are trading higher by 2.73% at $1,633.23 on the last check Tuesday.

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