British American Tobacco has made its first outside investment as it steps up the search for cutting-edge technology that could help it to reduce its reliance on cigarettes and other traditional smoking products, according to story by Bradley Gerrard for the Electronic Telegraph.
The company has backed China Materialia Venture Capital, a Chinese investment fund that is said to seek out early-stage technology firms in a bid to help them develop products that could subsequently be sold to larger companies.
Dr. David O’Reilly, who heads BAT’s research and development division, was quoted as saying that the company had for the first time invested in what he described as a “corporate scouting venture fund” whose aim was to help its investors “secure the latest technology”.
BAT widens horizons
