Corporate / CVC
Every published round British American Tobacco took part in, and every parcel of existing shares it bought off another holder. Deals we hold but haven't published yet are not counted.
Companies British American Tobacco has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| No portfolio companies recorded yet. | ||||
Fund closes reported for British American Tobacco, as distinct from the investments it has made.
Companies British American Tobacco has backed that another company then bought. An exit for the holding, not a deal British American Tobacco did.
Stories naming British American Tobacco. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Podcast interview in which Btomorrow Ventures' Karen Xiang discusses the firm's funds, its drinks-sector investing, and how founders should weigh strategic capital.
Also podtail.se
Interview with the investment lead of British American Tobacco's venture arm about corporate venture capital in drinks, its two funds, and the growth platform it offers beverage brands.
Analysis of Diageo's March 2025 withdrawal from accelerator Distill Ventures, where it was sole limited partner, citing strategy changes under new leadership, plus portfolio company Westward Whiskey's bankruptcy.