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Finance

Evonik, BASF invest in digital start-ups

by Alex Scott
February 23, 2019 | APPEARED IN VOLUME 97, ISSUE 8

 

Evonik Industries has created a new $170 million venture capital fund for investing in start-up companies. The firm put more than $110 million in its first fund, which it introduced in 2012. Evonik will direct investments toward start-ups specializing in digital technologies. Separately, BASF’s venture capital arm is investing $2 million in the San Francisco–based start-up incubator Alchemist Accelerator, which allocates at least half its investments to disruptive technologies such as artificial intelligence and robotics.

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