Evonik more than doubles venture capital to accelerate innovation
Evonik has launched its second venture capital fund with a volume of EUR 150 million, more than doubling the amount under management to EUR 250 million.
The new fund will help secure access to disruptive technologies and innovative business models as well as supporting Evonik’s digital transformation and enabling early identification of potential technology acquisition targets.”Investments in and partnerships with start-up companies generate strategic value and growth opportunities”, said Dr. Harald Schwager, Evonik’s deputy chairman of the executive board, who is responsible for innovation. “Our venture capital arm is a vital link to tomorrow’s technologies and way of doing business.”
Investment in digital printing, biotechnology and 3D printing
Since its inception in 2012, Evonik has realised 25 investments. The investment focus is on business and innovation fields such as Health & Care, Animal Nutrition, Smart Materials and Specialty Additives, which Evonik has already identified as growth drivers. The portfolio, which is made up of both direct and fund investments, includes companies such as Israeli digital-printing specialist Velox and the biotechnology start-up Numaferm, based in Dusseldorf, Germany. The portfolio company Structured Polymers, a US-based business active in 3D-printing technology, was acquired by Evonik in early 2019.
