Printing ink producer DIC Corporation has committed an undisclosed sum to the fourth fund being raised by Switzerland-based venture capital firm Emerald Technology Ventures, the Emerald Industrial Innovation Fund (EIIF).
EIIF, like its Emerald Cleantech Fund III predecessor fund, will target investments in early and growth-stage companies developing energy, water, advanced materials and industrial IT technology.
Emerald launched the fund in May 2016 with a contribution from Caterpillar Ventures, the corporate venture capital subsidiary of construction equipment manufacturer Caterpillar.
Kiyofumi Takano, general manager of DIC’s New Business Planning department, said: “Emerald’s global reach, expertise and best-in-class investor services are impressive.
“We look forward to partnering with Emerald to build our corporate venturing activities and achieve our open innovation targets.”
Emerald managing partner Gina Domanig added: “We created a unique fund structure that places the needs of investors at the forefront, combining the benefits of a traditional venture capital fund with the flexibility of an evergreen structure.
“The traction we have achieved demonstrates the value of our model. Ongoing commitments from multinational corporations such as DIC not only provide capital but also enhanced access to global partners and markets for our portfolio companies.”