DuPont Ventures, the corporate venturing subsidiary of chemicals producer DuPont, is set to close at the end of this month, according to a person familiar with the matter.
Formed by DuPont in 2003, DuPont Ventures’ made strategic investments on the corporate’s behalf. Its investments have included deals for biofuel feedstock supplier NexSteppe, taste modification molecule developer Linguagen and ethernet services provider Actelis Networks.
However, the unit has been relatively quiet of late, its last disclosed investment being its participation in a $75m round for drone management software provider PrecisionHawk in early 2018.
DuPont Ventures’ closure comes as part of a restructuring that will involve the company’s larger corporate innovation activities being cut as part of a cost-saving process, the source said.
The firm has not revealed whether it plans to divest the existing equity stakes held by its subsidiary. Other key players in the chemical corporate venturing space include BASF Venture Capital, Sabic Ventures, Evonik Venture Capital and Air Liquide Aliad.
