Stéphane Roussel, former managing director at Belgium-based chemicals producer Solvay’s corporate venturing unit, Solvay Ventures, has become a venture partner at European Circular Bioeconomy Fund (ECBF).
Operating since 2005, Solvay Ventures manages a $100m global evergreen fund with a focus on sustainable resources, energy transition, health and well-being, and industry 4.0 technology under Matt Jones in the US.
Jones said Thomas Canova had stepped into Roussel’s role for now, to cover Europe with investment manager Peter Vanlaeke (Alexandre Ouimet-Storrs had left Solvay Ventures to set up Oskare Capital in the summer).
Michael Brandkamp, former co-head of German state and corporate-backed early-stage investor High-Tech Gründerfonds (HTGF), set up ECBF in January 2020 and recruited Michael Nettersheim from Germany-based chemicals producer BASF’s corporate venturing unit in April (and a former HTGF colleague) as the other managing partner.
In October this year, ECBF made the first close of its fund at €82m ($96.8m) with commitments from the European Investment Bank (EIB), waste and recycling services provider PreZero, biochemical and polymer producer Corbion and the Hettich family office.
The EIB has promised €100m if the ECBF fund can reach its targeted close of €250m. Its first deals have been investments in PeelPioneers and Prolupin.
