Additional $ 200 Million for Philip Morris’ Corporate Venture Capital Activities

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01.11.2021
PMI Operations Center Lausanne

Philip Morris International Inc. plans to dedicate a further USD 200 million to minority investments in early and growth-stage companies through PM Equity Partner (PMEP), PMI’s corporate venture capital arm. PMEP has a track record of success with investments in 13 companies including three from Switzerland.

With this latest round of funding, Philip Morris International Inc. (PMI) will leverage its strengths to help investee companies translate innovation into commercial success. The allocation follows a 2016 commitment of USD 150 million that PMEP has since fully invested and is intended to support PMI’s smoke-free and beyond nicotine ambitions.

PMEP is focusing its investment activities on four distinct technology segments:

  1. Life science innovations, such as inhaled therapeutics and computational research methodologies.
  2. Industrial technologies like industrial robotics and automation, the internet of things, and technology-based process optimization.
  3. Product technologies, particularly those that relate to inhalation and aerosolization, chemical formulation, and bio-authentication.
  4. Consumer engagement technologies, such as user identification and age authentication, innovative customer care, and experience management.

Emmanuel Babeau, PMI’s Chief Financial Officer, said: “PMI’s scientific and technological leadership has enabled us to re-invent our company in our pursuit to unsmoke the world. We are dedicating further funds to our venture capital arm at a moment when we are in an even stronger position to leverage our expertise to support the development and commercialization of cutting-edge technologies, to the benefit of both PMI and investee companies.”

Alexander Stoeckel, head of PMEP, added: “PMEP is looking to invest in companies that can help PMI accelerate and further sophisticate our transformation while we support them through our industry-leading expertise to mature their technologies and businesses. We see this exchange as a win-win for PMI, the companies we invest in, and society.”

Three Swiss companies in the portfolio

PMEP has a track record of success with investments in 13 companies to date through its 2016 funding commitment. The portfolio includes three companies from Switzerland: Treatech, Biognosys and Biovation which was acquired by Biofourmis in 2019.

Ideal investments are between USD 2 to 10 million in Series A stage companies, with flexibility to also consider investments in seed or late-growth stage companies. PMEP investments are intended to add to our potential to innovate, while better positioning our partner companies for success.

(Press release / SK)
Photo: PMI Operations Center Lausanne / PMI

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