Germany-based industrial and consumer product manufacturer Henkel has formed a corporate venture capital subsidiary called Henkel Ventures and plans to invest up to €150m ($163m) through the unit.
Henkel has so far invested €25m in its corporate venturing activities, supplying capital to barrier technology manufacturer Vitriflex and coating material producer DropWise as well as funds raised by VC firms Emerald Technology Ventures and Pangaea Ventures.
In addition, the company’s Laundry and Home Care division has invested in UK-based on-demand laundry and dry cleaning service ZipJet. However, the launch of Henkel Ventures will mean all the corporate’s VC activities will be overseen by a single entity.
Robert Günther, the Henkel Ventures team member focusing on corporate development, explained: “With Henkel Ventures, we are combining our corporate venture capital activities across our three business units – Adhesive Technologies, Beauty Care and Laundry & Home Care.
“We are partnering with startups, helping them to successfully develop their innovative ideas and technologies. We offer a deep understanding of customers and consumers worldwide, a portfolio of leading brands as well as strong expertise in bringing innovations and new technologies to markets.”
Henkel Ventures will seek to invest at an early stage, preferably at series A, and will provide portfolio companies with access to its brands and global network.
In addition to Günther, the unit’s team is made up of Paolo Bavaj, who will focus on adhesive technologies, Esther Kumpan-Bahrami, who will oversee beauty care, and Thomas Schuffenhauer, who will specialise in laundry and home care deals.
– Photo courtesy of Henkel (L-R: Robert Günther, Paolo Bavaj, Esther Kumpan-Bahrami, Thomas Schuffenhauer)