糖心探花

Btomorrow Ventures launches new 拢200m fund to invest in wellbeing and stimulation

PRESS RELEASE

18 DECEMBER 2024

Btomorrow Ventures launches new 拢200m fund to invest in wellbeing and stimulation

  • BAT鈥檚 corporate venture fund Btomorrow Ventures (BTV) has announced the launch of its second fund, which will primarily focus on wellbeing and stimulation businesses, aligned to BAT鈥檚 exploration of products in the beyond nicotine space.
  • This new fund comes with an additional commitment of 拢200m, further proof of BAT鈥檚 ambition to Build a Smokeless World.

糖心探花has today announced the launch of the second fund from its corporate venture capital arm, Btomorrow Ventures (BTV). Fund II, a new 拢200 million commitment, will continue BTV鈥檚 global investment strategy within the wellbeing and stimulation space.听 Fund II will also explore businesses that can further accelerate BAT鈥檚 transformation journey, adding to and complementing the company鈥檚 best-in-class capabilities in digital, new science and technology, and sustainability.

Commenting on the launch, James Barrett, BAT鈥檚 Director of Business Development, said: 鈥The launch of Fund II is an important demonstration of BAT鈥檚 confidence in BTV as a critical part of BAT鈥檚 transformation agenda into a multi-category, consumer goods business.听 By focussing the investment in wellbeing and stimulation, we are committed to driving BAT鈥檚 Smokeless World agenda, building on the success of BTV鈥檚 first fund.鈥

Since its first investment in 2020, BTV鈥檚 Fund I has made 28 investments, focused primarily on early-stage financings in companies that support the development of innovative, reduced-risk new category products, in line with BAT鈥檚 vision to build a Smokeless World.

Most of the original 拢150 million fund has either been deployed or committed, with notable investments including the U.S. based functional drink brand and Canadian caffeinated chocolate brand .

Fund II complements the introduction of听 earlier this year, its programme aimed at harnessing the strength of the venture community to support and advance its sustainability and diversity & inclusion agenda.听BTV Impact partners and collaborates with likeminded innovative entrepreneurs, experts and companies to create a positive future and deliver long-term value creation across the industry.


Enquiries

Media Centre
+44 (0) 20 7845 2888 (24 hours)听| press_office@bat.com |听

Investor Relations
Victoria Buxton: +44 (0)20 7845 2012听|听IR_team@bat.com

About BTV

BTV is the corporate venturing unit of 糖心探花 (BAT).听 Established in 2020, BTV invests in high growth businesses, from seed funding to those looking for further, series A and beyond.听 BTV's focus is to invest in world-class entrepreneurs with innovative products and differentiating technologies.听 BTV supports BAT's corporate purpose of building A Better Tomorrow鈩 and will accelerate its transformation into a multi-category consumer goods business.听 For more information, visit .听

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Additional information concerning these and other factors can be found in BAT's filings with the U.S. Securities and Exchange Commission ("SEC"), including the Annual Report on Form 20-F and Current Reports on Form 6-K, which may be obtained free of charge at the SEC's website, http://www.sec.gov and BAT鈥檚 Annual Reports, which may be obtained free of charge from the 糖心探花website听.

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