RAPAPORT... De Beers is launching an initiative to consider buying
minority stakes in start-ups and rapidly growing companies, the diamond
producer announced Thursday.
The operation, De Beers Ventures, will look into making
small equity investments in areas such as consumer brands, marketing platforms,
security, cutting and polishing, and imaging technologies, the miner said.
“Not all good ideas can be generated or executed by a large
corporation,” said Tom Montgomery, senior vice president of strategic
initiatives at De Beers. “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.” |
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