Evonik is boosting its corporate venturing activities in Asia by investing in the Chinese Hosen Capital Fund III.
The fund invests in leading businesses and technology companies with a focus on the agriculture and nutrition sector. The parties agreed to keep the amount of the investment sum confidential. "With our investment in the Hosen Capital Fund III, we enter into a strong partnership with direct relevance for our own business activities," said Bernhard Mohr, head of venture capital at Evonik. "At the same time, we expand our engagement in one of the world's most important venture capital markets." Fund investments are an essential component of Evonik's venture capital activities.
Evonik's products and services in the area of animal nutrition play a key role worldwide in the production of healthy and affordable food, while preserving natural resources and reducing the ecological footprint. "Our strategic involvement in the Hosen Capital Fund III gives us access to partnerships with innovative technology start-ups in the Chinese agriculture and nutrition industry, resulting in essential impulses for further business development," noted Emmanuel Auer, head of Evonik's Animal Nutrition Business Line.
Evonik plans to invest a total of EUR100 million (US$107 million) in promising start-ups with innovative technologies and in leading specialized venture capital funds as part of its venture capital activities.
Regional focuses are Europe, the US and Asia. Currently, Evonik holds stakes in ten start-ups and five funds.
Evonik's Official Website: corporate.evonik.com