EVONIK Provides Growth Capital for Yong Digital Companies
2017-12-06    [Source:EVONIK]

Evonik provides venture capital for young digital companies. Through its venture capital arm, Evonik invests in Digital Growth Fund I, managed by the growth investor Digital+ Partners headquartered in Munich. The fund provides growth capital for fast-growing young IndustrialTech and FinTech companies with proven and successful B2B business models. These companies are regarded as drivers of the digital transformation in industrial and financial processes. The regional focus is on Germany, Austria, and Switzerland. The targeted fund size is €300 million. The parties have agreed not to disclose the amount of Evonik’s investment. "With the investment in Digital Growth Fund I, we are entering into a strong partnership that strengthens Evonik in an important field of the future," says Bernhard Mohr, head of Venture Capital at Evonik.

Evonik sees itself as a pioneer in digitalization within the chemical industry. By the year 2020 the specialty chemicals company plans to have invested about €100 million in the development and testing of digital technologies and in building up the associated expertise. "We are also relying on strategic partnerships with startups," says Henrik Hahn, Chief Digital Officer of Evonik. "Our strategic investment in Digital Growth Fund I provides access to young technology companies with relevance for Evonik. This will help us in successfully shaping digitalization at Evonik."

As part of its venture capital activities, Evonik plans to invest a total of €100 million in promising start-ups with innovative technologies and in leading specialized venture capital funds. Regional focus is Europe, North America and Asia. Evonik currently holds stakes in more than twenty startups and specialized funds. Further information is available at http://venturing.evonik.com/

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