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Benzinga
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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