Evonik Expands Venture Capital Activities into Asia
By investing in the Chinese venture capital fund GRC SinoGreen Fund III (GRC III), Evonik Industries AG, Essen, Germany, has expanded its venture capital activities into Asia. The parties have agreed to not disclose the amount of the investment. As a result, the company is now represented in the most important venture capital regions of North America, Europe, and Asia.
GRC invests in private, green technology companies with unique strengths and substantial growth potential in Greater China. Target sectors include energy and resource efficiency, cleaner transportation, sustainability, and climate change mitigation and adaptation. GRC III has offices in Beijing and Taipei. In recent years, Asia has evolved into the world’s third-most important venture capital region. China accounts for around two-thirds of these activities.
"By investing in GRC III, we are opening the door to the fast growing start-up community in Greater China," explained Bernhard Mohr, head of Venture Capital at Evonik. "With GRC we have found a strong partner with a proven track record and with immediate relevance to our own business activities." As part of its venture capital activities, Evonik plans to invest a total of €100 million in promising start-ups with innovative technologies and in leading specialized venture capital funds. The regional focus is on Europe, the US, and Asia. Evonik currently has holdings in eight start-ups and four funds.
Evonik Industries AG
Would you like to subscribe to our Newsletters on plastics technology and profit from the latest information?
Looking for a new challenge? Check out our jobs market!
Patents encourage innovation: Stay on the ball with the latest innovations in the plastics industry in our patents section.