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Start-ups

Evonik invests in New Jersey venture capital firm

by Melody M. Bomgardner
August 3, 2019 | APPEARED IN VOLUME 97, ISSUE 31

 

Germany’s Evonik Industries is putting less than $10 million in an investment fund from Tech Council Ventures, a backer of start-ups in the US mid-Atlantic region. Like Evonik’s US headquarters, Tech Council Ventures is based in New Jersey. The money will go to young firms advancing technologies that Evonik sees as key to its growth in areas such as materials, life sciences, and health care. Evonik started its own venture capital unit in 2012. Its newest fund, worth $170 million, is directed at digital technologies.

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