A seasonal message from our MD

Season’s greetings to you at this special time of year. On behalf of the entire BTV team I’d like to say thank you for sharing our exciting journey with us throughout 2024. We wish you and yours the very best in health and happiness over the festive season.

I’d also like to take this opportunity to tell you that this will be my last seasonal message as MD of BTV, as I am moving within BAT, and returning with my family to the U.S. to take on a new role as Senior Vice President, Business Development at Reynolds American. My new position means I will maintain close connections with the BTV team and our portfolio companies in the U.S., something I am very grateful for. Our new BTV MD will be announced in the New Year, so please look out for that exciting news!

As I look back on the past year, and indeed, the whole of my time here at BTV, I reflect on how much we have achieved as a team. It is important to us that we do everything with passion, inclusivity and empowerment, because we truly believe we are stronger together.

And what a time it has been, for our portfolio companies, founders and partners, and our colleagues throughout BAT and the wider venture capital ecosystem who support us with their commitment and expertise.

Just this week we announced the launch of our second fund, which will primarily focus on wellbeing and stimulation businesses. Fund II comes with a further commitment of £200m to continue our global investment strategy in this space, and we are thrilled by the possibilities it opens up, further accelerating BAT’s transformation journey.

We welcomed two new companies into our portfolio this year. U.S.-based HOPWTR creates consciously-crafted sparkling water that blends bold hops with adaptogens and nootropics. It’s a brilliant addition to our growing portfolio of functional beverages that already includes Moment, More Labs and Tru.

Then in November we announced our investment into German company one.five. This packaging tech platform focuses on developing and launching sustainable packaging solutions to replace single-use plastics in the consumer packaged goods industry.

And we strengthened our commitment into AWAKE caffeinated chocolate’s growth and expansion with a C$5 million follow-on investment, earlier this year.

In Q3, we launched BTV Impact, our robust new framework to help drive our ESG strategy forward. It’s part of our ambition to create world-class businesses, drive transformation and make a positive difference for people and the planet, helping us to play our part in solving some of the world’s toughest ESG challenges.

Another exciting innovation came when we teamed with BAT to boost our Brazilian portfolio company Mais Mu’s distribution. The successful pilot saw the healthy snacks start-up’s products become available in more than 9,000 new points of sale, in partnership with BAT Brasil, and we later expanded the pilot into six other Brazilian states.

Being able to collaborate beyond borders to provide the best possible collective outcomes has been one of the joys, and privileges, of my role in BTV.

During my time as BTV MD, I have enjoyed seeing how we have worked together outside of the office too, by, for example, cheering on the successes of LGBT+ touch rugby team the Clapham Feelers – who we sponsor – and admiring their team kit, which features our logo and that of our portfolio company, Feel.

Some of us also took part in London Pride, joining our friends in B United (BAT’s LGBT+ network), along with a team from Feel and our partners at Global Corporate Venturing, marching behind a special B United-branded float.

2025 is just around the corner and you’ll be hearing from our new MD soon.

But before the clock chimes midnight on the New Year's Eve, there’s still Christmas to enjoy. So treasure this time with your loved ones, as I will with my wife, kids and extended family. And delight in all that the festive season offers.

Merry Christmas and a Happy New Year to one and all.