Deliveroo launches new innovation fund

Deliveroo, the food delivery company, has just launched a £5m innovation fund, in a rather unexpected move.

The three broad aims of the fund are: firstly investing in existing restaurants, secondly developing new brands to operate from delivery-only "Deliveroo Editions", and thirdly working with up-and-coming chefs to support their business through delivery-only options.

It is not yet known whether the CEO Will Shu, who previously worked as an investment banker at Morgan Stanley, will play a key role in the fund.

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