Clean-tech venture capital firm Emerald Technology Ventures announced the second closing of its third fund with a target size of €100 million. At the time of the closing, new European limited partners Evonik Industries, MAHLE and Cofisa (Sibelco) joined existing investors in the Emerald fund, which include ABB, Clariant, Sulzer and a range of family offices. With primary offices in Zurich, Switzerland and Toronto, Canada, Emerald invests in early- and expansion-stage companies in the energy, water and materials sectors.
Emerald Technology Ventures Welcomes EVONIK, MAHLE and COFISA in the Second Closing of its Third Venture Fund
ZURICH AND TORONTO, Jan. 15, 2013 /CNW/ – Emerald Technology Ventures is pleased to announce the second closing of its third venture fund with a target size of €100 million. As of December 21, 2012, the three leading multinational corporations Evonik Industries, MAHLE and Cofisa (Sibelco) joined existing investors including ABB, Clariant, Sulzer and family offices. The fund invests in early and expansion stage companies in the energy, water and materials sectors.
“For more than a decade we have been a trusted partner for corporate investors and we look forward to working closely with Evonik, MAHLE and Sibelco in the coming years,” commented Gina Domanig, Managing Partner at Emerald. “At the same time, Emerald portfolio companies leverage our relationships with these multinational players for quick technology adoption, joint development of products & services, and international market access. This advantage is a key success driver and ensures superior returns to our investors.”
“With our investment in Emerald Cleantech Fund III we have a strong partner with a proven track record and with immediate relevance to our own business activities” explained Dr. Bernhard Mohr, Head of Evonik Corporate Venturing. “Partnering with start-ups creates excellent opportunities for accelerating the development of new businesses and opening up future growth fields.”
Dr. Armin Messerer, Director Corporate Planning at MAHLE stated: “This investment represents an essential step in strengthening the technology and innovation driven business of MAHLE,” and Kai Engelhardt, Head of Venture Capital at the group added: “We trust in the pronounced Cleantech expertise of Emerald and are looking forward to collaborating with this excellent team.”
“Open innovation is a key avenue for Cofisa, a wholly owned subsidiary of industrial mineral producer Sibelco, and given the Emerald competence and deal flow, this investment represents an important pillar to support our efforts in partnering with external start-ups,” concluded Sam Leese, Senior R&D Advisor at Sibelco.
Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Its activities focus on the key megatrends health, nutrition, resource efficiency and globalization. Profitable growth and a sustained increase in the value of the company form the heart of Evonik’s corporate strategy. Evonik benefits specifically from its innovative prowess and integrated technology platforms.
Evonik is active in over 100 countries around the world. In fiscal 2011 more than 33,000 employees generated sales of around €14.5 billion and an operating profit (adjusted EBITDA) of about €2.8 billion.
The MAHLE Group is one of the 30 largest automotive suppliers worldwide. As the leading manufacturer of components and systems for combustion engines and its periphery, the MAHLE Group is among the top three systems suppliers worldwide for piston systems, cylinder components, valve train systems, air management systems and liquid management systems. More than 49.000 employees work in over 100 production plants and eight research and development centers. MAHLE achieved a turnover of more than €6 billion in 2011.
About Cofisa (Sibelco)
Cofisa is a wholly owned subsidiary of Sibelco – a Belgium based and family owned company, operating since 1872 and producing minerals in 41 countries over 5 continents from more than 200 operating sites. Sibelco minerals include but are not limited to Silica, Feldspar, Clay and Kaolin, Limestone, Olivine and high-purity Quartz serving many major applications, examples of which are glass, ceramics, energy, metals, functional fillers for plastics and rubber, electronics and others.
About Emerald Technology Ventures
Emerald Technology Ventures is a globally recognized investor in the areas of energy, water and materials. Founded in 2000, Emerald has been a venture capital pioneer in these industrial sectors and has invested in fifty companies to date. From offices in Zurich, Switzerland and Toronto, Canada, Emerald manages three venture capital funds and two venture capital portfolio mandates totaling over €340 million (USD 450 million). Fund investors include leading financial institutions, family offices and multinational corporations.
Photo courtesy of Shutterstock.
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