Grupo Emasa, a Chile-based vehicle parts manufacturer part-owned by Germany’s Robert Bosch industrial group, has started a corporate venturing unit as part of its plan to bring 30% of its income from business lines with zero emission energy by 2030.
Emasa Ventures under general manager Arsenio Fernández Ovalle will have an initial $10m in its set-up stage with a further $20m to then finance startups.
“Our plan is to attract businesses linked to the sector that, based on their development and expansion, will become the source of financing for the Company in the future,” Víctor Ide, CEO of Grupo Emasa, told news provider PressPeru.
