The investment is the fifth for 301, which General Mills established last fall out of its former new business development unit. That unit often created products based on established brands, like a refrigerated Pillsbury pancake batter and Progresso soups in pods that could be used with single-serve coffee makers.

General Mills is not the only food company dabbling in venture capital. This year, Campbell put $125 million into an in-house venture capital business called Acre Venture Partners. And Unilever has long had a venture capital unit.

Big food companies traditionally favor mergers and acquisitions, however. This week, for example, Hormel bought Justin’s, which makes nut butters and peanut butter cups that are gaining share against longtime market leaders. And last year, Mondelez bought Enjoy Life Foods, a snack foods business playing in what the industry calls the “free-from” segment of the market — even though Mondelez also started its own line of such products.

“You could argue that we could just make an acquisition, but what 301 allows us to do is engage in companies that are still small and emerging and keep the chief executive and leadership team in place to help preserve the culture,” Mr. Haugen said.

Victor Friedberg, managing partner at S2G Ventures, a venture capital firm that invests in food and agriculture businesses, said big food companies are increasingly finding it less costly to invest in or buy small businesses. That is because a new business developed internally would have to generate as much as $100 million in sales in its first year to justify the investment of time and money.