UK-based jewellery provider De Beers Group has formed a corporate venture capital unit called De Beers Ventures that will invest in startups and growth-stage companies.
De Beers Ventures will look to make strategic investments that also turn a profit, and will explore areas such as consumer brands, marketing platforms, mining and geological imaging technology, downstream distribution, security, and stone cutting and polishing.
Tom Montgomery, De Beers’ senior vice-president of strategic initiatives, said: “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.”
De Beers had previously made investments through Element Six Ventures, a unit overseen by its synthetic diamond supermaterial subsidiary, Element Six. It also runs a chain of business incubator hubs under the Zimele umbrella.
– Photo courtesy of De Beers Group