The De Beers Group  has set up De Beers Ventures “to actively consider the acquisition of minority equity stakes in start-ups and growth companies”, the Group announced yesterday.

Under consideration of the new company will be proposals for “small investments” in fields like downstream distribution, consumer brands, marketing platforms, security, cutting and polishing, and imaging technologies. “The objectives of the investments will be to generate returns that are both strategic and financial,” De Beers said making the announcement.

Tom Montgomery, Senior Vice President of Strategic Initiatives, De Beers Group, commented: “Not all good ideas can be generated or executed by a large corporation. 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.”

The Group has invited entrepreneurs to submit their business plans and proposals to De Beers via www.debeersventures.com