Issue Date: January 23, 2012
Evonik Will Set Up Investment Unit
Evonik Industries is establishing a venture capital unit that will invest up to $125 million over the next few years in start-up companies and venture capital funds around the globe. The firm says it will direct investments to innovative ideas that help globalize its businesses, lead to more efficient use of resources, and advance health and nutrition. Rather than being just a passive investor, the firm says, it will offer insight and technical expertise to companies in which it invests. Chemical firms including BASF, Dow Chemical, and DuPont already have corporate venture capital units.
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