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Business

Evonik and Wacker invest in start-up fund

by Marc S. Reisch
June 5, 2017 | APPEARED IN VOLUME 95, ISSUE 23

Evonik Industries and Wacker Chemie are among the investors in a $335 million fund intended to finance young start-up firms. Germany’s Federal Ministry for Economic Affairs & Energy and the German state-run KfW Development Bank are the main investors in High-Tech Gründerfonds III, which will also help the start-ups put their business concepts into practice. Evonik expects the investment will help it identify new technology as it develops. Wacker sees the investment as a way to support creative ideas.

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