Home Depot announces USD 150 mio. fund for start up investment

Home Depot has announced a USD 150 million venture capital fund created to identify, fund and partner with early-stage companies. According to a company report, the fund's goal is "to accelerate emerging technologies that aim to improve the customer experience and shape the future of home improvement". The fund will run under the name of Home Depot Ventures.

"With Home Depot Ventures, we're lending our support and expertise to enable rapid scale of innovation," said Richard McPhail, executive vice president and chief financial officer of The Home Depot. "This is an exciting opportunity to find and scale the next big ideas in technology and retail."

The fund's aim will be to invest in companies that advance Home Depot's ability to provide a seamless interconnected shopping experience, develop new and differentiated capabilities, and extend its low-cost provider position. Accordingly the company report states the three fields of Better Serve Customers, Better Serve Associates and Deliver Operational Excellence.

As Home Depot states, the fund will consider investment opportunities in businesses at various stages of development, with an emphasis on early and growth stage companies that solve challenges for The Home Depot's customers and show potential to scale. Home Depot Ventures will serve as a valuable partner by providing growing companies with direct access to the expertise and expansive footprint of the broader enterprise.