The De Beers Group of Companies has announced it is considering launching investments with start-up brands.
The group has revealed the creation of a new initiative called De Beers Ventures, which seeks to actively consider the acquisition of minority equity stakes in start-ups to support the growth of companies.
The new initiative will consider small investments in areas that may include downstream distribution, consumer brands, marketing platforms, security, cutting and polishing, and imaging technologies. The objectives of the investments will be to generate returns that are both strategic and financial.
Tom Montgomery, senior vice President of strategic initiatives, De Beers Group, explains: “Not all good ideas can be generated or executed by a large corporation. 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.”
Entrepreneurs can submit tbusiness plans and proposals to De Beers via a dedicated De Beers Ventures website.