Evonik invests in Hosen Capital Fund III
- Boost for venture capital engagement in Asia
- Focus on agriculture and nutrition
- Strong partnership with direct business relevance
Essen, Germany. 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 €100 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 United States and Asia. Currently, Evonik holds stakes in ten start-ups and five funds.
More information is available at http://venturing.evonik.com/
Evonik, the creative industrial group from Germany, is one of the world leaders
in specialty chemicals. Profitable growth and a sustained increase in the value of the company form the heart of Evonik’s corporate strategy. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated technology platforms.
Evonik is active in over 100 countries around the world. In fiscal 2015 more than 33,500 employees generated sales of around €13.5 billion and an operating profit (adjusted EBITDA) of about €2.47 billion.
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.