In a recent episode of Corporate Venturing Insider, Annie Goman, Managing Director of Btomorrow Ventures (BTV), shared her unique journey into corporate venturing and her vision for the future of BAT’s venture arm. With a background in commercial leadership across global consumer goods companies, Annie brings a fresh perspective to the world of CVC—one rooted in transformation, agility, and empathy.
Annie’s path to BTV builds on a solid foundation in corporate innovation. She previously held roles at ZX Ventures, the growth and innovation arm of AB InBev, where she worked closely with startups in the e-commerce and direct-to-consumer space, supporting post-investment integration and growth. She also led BAT’s global cannabis investment portfolio before stepping into the Managing Director role at BTV. While not a traditional investor by training, Annie’s experience working at the intersection of large corporates and fast-moving startups has equipped her with the strategic insight and leadership needed to drive transformation through venture thinking.
Under Annie’s leadership, BTV has undergone a strategic reset, aligning its second fund—a £200 million commitment—with BAT’s broader transformation agenda. This includes investments in smokeless nicotine products and beyond-nicotine categories like functional food and beverages. BTV now operates with two distinct investment pathways: Strategic Capitalization, focused on high-alignment ventures with BAT, and Venture Growth, designed to explore emerging opportunities and build options for the future.
Annie also highlighted the importance of post-investment support, drawing on her experience at ZX Ventures to build a more systematic portfolio growth function.
“We’re not just investing in brands,”
she explained.
“We’re investing in capabilities that will help BAT evolve into a multi-category CPG company.”
Her approach is deeply human-centred. From recruiting empathetic talent to fostering long-term relationships with founders, Annie believes that success in CVC is about more than capital—it’s about connection.
“We’re here for the long game,”
she said.
“And that means building trust, listening deeply, and being intentional about how we support innovation.”
As BTV begins deploying Fund II, Annie’s thoughtful leadership is positioning the team to be a catalyst for change—both within BAT and across the broader venture ecosystem.
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Impact
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