Chemicals producer Evonik provided an undisclosed amount of financing on Monday for Hosen Capital Fund III, the latest fund to be raised by China-based private equity firm Hosen Capital.
Hosen invests in companies developing technology focused on agriculture and nutrition, an area of interest to Evonik because of its own work on animal nutrition products and services, and the prospect of accessing Chinese startups operating in the space.
Bernhard Mohr, Evonik’s head of venture capital, said: “With our investment in the Hosen Capital Fund III, we enter into a strong partnership with direct relevance for our own business activities.
“At the same time, we expand our engagement in one of the world’s most important venture capital markets.”
Other funds Evonik has supplied capital to in the past two years include those raised by Canada-based venture capital firm Pangaea Ventures and the China-based, environmental technology-focused GRC SinoGreen.