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.”

The head of Evonik Venture Capital GmbH is Dr. Bernhard Mohr. “The extension of the fund volume to €250 million manifests our ambition to establish Evonik Venture Capital as one of the global leading investors in the specialty chemicals space”, said Mohr.

As well as providing capital, Evonik offers start-ups access to the resources of one of the world’s leading specialty chemicals companies. Since its inception in 2012, Evonik has realized 25 investments. The venture capital unit has a global reach with offices in Germany, U.S.A. and China. 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. The portfolio company Structured Polymers, a U.S.-based business active in 3D-printing technology, was acquired by Evonik in early 2019.