We are thrilled to announce the launch of BTV’s second fund. Fund II, a new £200 million commitment, will continue BTV’s global investment strategy within the wellbeing and stimulation space.
Fund II will also explore businesses that can further accelerate BAT’s transformation journey, adding to, and complementing, the company’s best-in-class capabilities in digital, new science and technology, and sustainability.
Commenting on the launch, James Barrett, BAT’s Director of Business Development, said:
“The launch of Fund II is an important demonstration of BAT’s confidence in BTV as a critical part of BAT’s transformation agenda into a multi-category, consumer goods business. By focusing the investment in wellbeing and stimulation, we are committed to driving BAT’s Smokeless World agenda, building on the success of BTV’s first fund.”
Since BTV’s first investment in 2020, our 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’s vision to build a Smokeless World.
Most of the original £150 million fund has either been deployed or committed, with notable investments including the U.S. based functional drink brand Moment and Canadian caffeinated chocolate brand AWAKE.
Fund II complements the introduction of BTV Impact earlier this year, its programme aimed at harnessing the strength of the venture community to support and advance its sustainability and Diversity & Inclusion agenda. BTV Impact partners and collaborates with like-minded innovative entrepreneurs, experts and companies to create a positive future and deliver long-term value creation across the industry.
