Cleantech Ventures USAEvonikPangaea
Cleantech News / Eating, USA. Evonik Industries is strengthening its corporate venturing activities with an investment in the North American "Pangaea Ventures Fund III", based in Vancouver, Canada. The fund invests in young technology companies with focus on new materials and specialty chemicals, including new energy and environmental technologies and nanotechnology. With Corporate Venturing Evonik will invest a total volume of the medium leading up to EUR 100 million in promising start-ups and specialized venture capital funds.
For existing portfolio of Pangaea Ventures include Cnano Technology, Cyrum Technologies, Tioga Energy and Envia Systems. "With the investment in Pangaea Ventures Fund III, we have a strong partner in one of the world's most dynamic venture capital markets directly related to our own business," said Dr. Peter Nagler, Chief Innovation Officer of Evonik. "This investment is an important step in the consistent implementation of the internationalization strategy of our corporate venturing activities."
Evonik gets access to partnerships with the participation of young, innovative technology companies in cross-industry segments with the characteristics of energy and resource efficiency and sustainability. Chris Erickson, General Partner of Pangaea Ventures explains: "We are pleased that Evonik invests as a leader in the specialty chemicals now in our funds. The portfolio companies of Pangaea benefit from the collaboration with Evonik for the development of new markets and develop new technologies. "
No comments:
Post a Comment