Evonik to Invest in Venture Capital Activities in Europe, the U.S., and Asia

Evonik Industries says it plans to strengthen its innovation capacity over the medium and long term by establishing a corporate venturing unit within the company's innovation management unit. Evonik plans to invest, through the corporate venturing unit, up to €100 million ($128 million) over the medium term in start-ups, and in leading specialist venture capital funds. The focus of the investments will be in Europe, the U.S., and Asia, Evonik says. "With corporate venturing we' re supplementing our approach with open innovation, and creating...

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