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Evonik Expands VC Activities into Asia

Evonik is investing in Chinese venture capital fund GRC SinoGreen Fund III.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

By investing in the Chinese venture capital fund GRC SinoGreen Fund III (GRC III), Evonik has expanded its venture capital activities into Asia. As a result, the company is now represented in the most important venture capital regions of North America, Europe, and Asia.
 
GRC invests in private, green technology companies with unique strengths and substantial growth potential in Greater China. Target sectors include energy and resource efficiency, cleaner transportation, sustainability, and climate change mitigation and adaptation. GRC III has offices in Beijing and Taipei.
 
“By investing in GRC III, we are opening the door to the fast growing start-up community in Greater China,” said Bernhard Mohr, head of venture capital at Evonik. “With GRC we have found a strong partner with a proven track record and with immediate relevance to our own business activities.”
 
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. The regional focus is on Europe, the US, and Asia. Evonik currently has holdings in eight start-ups and four funds.
 

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