BTV makes GCV’s Powerlist 2024

We’re thrilled to announced that our MD, Juan M. Palacios, and the BTV team, have been awarded a place in the Global Corporate Venturing Powerlist 2024. GVC’s annual Powerlist celebrates the top 100 investors and CVC leaders who are influencing the development of their industry. It’s a reflection of who is shaping today's corporate venturing landscape, and is one of GCV’s highest acolades.

The selection was based on a combination of quantitative and qualitative data, including number of investments in the past year, exits, team composition, unit approach and community involvement.

“I am honoured to be on the 2024 Powerlist, on behalf of the BTV team. While I am the figurehead for the award, everything we do at BTV is a team effort, and this is a reflection of the hard, and truly inspiring, work BTV has done over the past year, and beyond,” says Juan.

“I’d also like to thank our colleagues in BAT, our partners, and of course, our portfolio companies and founders, who are the reason we face each day with such enthusiasm and determination to be the best we can be, on their behalf.”

Since stepping into the MD role, Juan has spearheaded a portfolio prioritisation strategy with BTV’s core portfolio companies. The aim of this was for BTV’s investment team and wider BAT team to deliver the most impact through collaboration and utilisation of BAT’s global capabilities.

Another innovation for the team has been the championing of a commercial partnership model in which the CVC unit partners with the parent and the start-up to accelerate growth while simultaneously securing strategic priorities to the parent.

One of the major investments the team has been proud to work on over the past year was participating in FlexSea’s funding round. After it won Battle of Minds in 2022 – a global pitch competition run by BAT in partnership with BTV to discover and fund the next generation of change makers – we were excited to invest into the start-up. Since then, FlexSea has become a leading supplier of seaweed-derived polymers that can be used in traditional processes to create rigid and semi-rigid packaging to replace harmful plastics. This is something that has the potential to positively transform the impact that packaging makes on our environment.

Another investment BTV made last year was in Mais Mu, a Brazilian start-up that offers a diverse range of healthy snacks and supplements. As part of that investment, Souza Cruz (BAT Brasil) became a strategic partner utilising its distribution network for the start-up. For example, it took Mais Mu many years to reach 10,000 points of sale, and in the first few months alone during the Souza Cruz distribution pilot, they helped them reach more than 3,000 new points of sale.

Throughout the year we have also continued to champion our Binspired initiative which supports our portfolio and founders, by building a community for entrepreneurs and thought-leaders. Each event leads with talks from inspirational leaders and expert speakers, followed by in-person networking offering insights, learnings and new contacts.  

You can read the full story of the Powerlist award at www.globalventuring.com.