Essen, Germany. Evonik Venture Capital has invested in Fund VIII of Global Brain Corporation, a Japanese venture capital company. The move marks Evonik’s first investment in the country. The Fund focuses on startups with disruptive technologies in the fields of biotechnology, food and agricultural technology, clean technologies, innovative materials and DeepTech. Through the investment, Evonik is expanding its innovation network in the important Japanese market. Both parties have agreed not to disclose the amount of the investment.
"Japan is a highly innovative country with a well-developed chemical industry, an interesting research landscape, and a flourishing startup scene," said Dr. Bernhard Mohr, head of Evonik Venture Capital. "We want to be part of that. Early access to new technologies and commercial opportunities is important to identify synergies with our existing activities at Evonik."
By investing in the fund, the Essen-based specialty chemicals group will benefit from Global Brain's local as well as global network. The venture capital company was founded in 1998 in Tokyo, Japan. Today, it also has offices in Singapore, Indonesia, Korea, the United Kingdom, Germany, America, China and India.
Yasuhiko Yurimoto, president and CEO of Global Brain, said: "We sincerely welcome the participation in our flagship fund by a globally esteemed company like Evonik and appreciate the recognition of Global Brain as a partner to promote innovations in the world."
Fund investments are part of Evonik Venture Capital's investment strategy, along with direct investments in startups. "The fund managers are our additional eyes and ears into the innovation world: they are well connected with the startups, know the innovation ecosystem, and give us a broad overview of ideas and solutions of the future."
Evonik has been active in Japan since 1969 and has 15 sites in the country. In addition to five production facilities, they also include four research and development centers and four joint ventures with Japanese partner companies. In research, Evonik works closely with the Tokyo Institute of Technology and the RIKEN Institute of Natural Sciences.
Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries around the world and generated sales of €15 billion and an operating profit (adjusted EBITDA) of €2,38 billion in 2021. Evonik goes far beyond chemistry to create innovative, profitable and sustainable solutions for customers. More than 33,000 employees work together for a common purpose: We want to improve life today and tomorrow.
About Evonik Venture Capital
With a fund size of €400 million, Evonik Venture Capital (EVC) has made 50 investments since 2012, both direct and fund investments. From its offices in Germany, the USA and China, EVC invests in innovative technologies and business models in the area of Nutrition & Care, Smart Materials and Specialty Additives. The investments also support the digitalization and sustainability strategy of Evonik. The scope ranges from early stage to growth stage with an investment volume of up to €15 million per portfolio company. https://venturing.evonik.com
In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.