24 Jun De Beers launches start-up investment venture
De Beers Group announced the launch of De Beers Ventures to focus on investing in start-ups and growth companies.
The new subsidiary will engage in minority equity positions in areas including downstream distribution, consumer brands, marketing platforms, security, cutting and polishing and imaging technologies.
Through the investments De Beers is looking to generate both strategic and financial returns.
Tom Montgomery, senior vice president of strategic initiatives at De Beers group said it was important to recognise the opportunities for idea creation at start-up companies.
“Not all good ideas can be generated or executed by a large corporation,” Montgomery said. “We believe that harnessing the energy of entrepreneurs to pursue strategic opportunities that benefit De Beers and the diamond industry can be a cost-effective, risk-reduced way to pursue innovation.”