199 Ventures

199 Ventures

Hormel Foods Corporation, founded in 1891, created 199 Ventures to pursue innovation in food and beverage. The pension fund supplies the capital base while the venturing unit executes the strategy. Bryan Kreske serves as Leader and General Manager. The unit deploys across venture and early-stage strategies with allocations to private equity and fund-of-funds structures. Confirmed holdings include The Better Meat Co., Explore Cuisine, and positions accessed via Green Circle Foodtech Ventures I in Imagindairy, Goodmylk, and UNCAGED Innovations. Activity centers on the United States and Israel. The pension fund also maintains real estate fund exposure and a corporate aircraft lease. The Hormel Foundation, established in 1941, operates as a separate philanthropic vehicle with estimated annual giving of $34 million. It holds a 46.8 percent stake in Hormel Foods Corporation. February 2026: Bryan Kreske spoke at the CAGNY Conference on corporate strategy and technology investments. The group participates in Naturally Network and GCV Leadership Society events. 199 Ventures sits inside the parent corporation rather than as an independent family office or external manager. This places investment decisions under the same governance as the defined benefit plan and the foundation's major shareholding.