Chemical and consumer goods producer Henkel has agreed to supply €5m ($5.9m) in capital for the second fund to be raised by China-based open innovation specialist China Materialia.
China Materialia’s Investment Fund II will invest in developers of new materials and energy, environmental and advanced manufacturing technology in addition to products that will help digitalise the industrial sector.
Henkel made the investment through its €150m corporate venturing subsidiary, Henkel Ventures. Other funds to have been backed by the company as a limited partner include Emerald Technology Ventures and Pangaea Ventures.
Paolo Bavaj, head of corporate venturing for Henkel Adhesive Technologies, said: “China is an important market for our Adhesive Technologies business and has become a hotspot for material-science focused start-ups over the past years.
“China Materialia provides a proven expertise in gaining access and insights into the local ecosystem. The investment is aligned with our defined search fields for advanced materials and will further drive our corporate venture capital approach by expanding the footprint into key regions.”