Corporates Bühler, AkzoNobel and Wuppermann have invested in Icos Capital Fund III (ICF III), a €50m ($52m) cleantech and sustainability-focused vehicle created by Netherlands-based venture capital firm Icos Capital.
Process engineering company Bühler, paints and chemicals producer AkzoNobel and steel processing and finishing business Wuppermann joined the city of Rotterdam in helping ICF III to achieve its first close yesterday.
ICF III will focus on opportunities in the chemical, food and materials sectors, particularly seeking out companies working on technologies around renewable resources, sustainable processes and smart production systems.
Icos Capital bills its approach to funding startups as “collaborative corporate venturing,” saying that the addition of corporate partners to its VC funds means investments can be better validated and portfolio companies benefit from add-on value during the scaling process.
Peter van Gelderen, co-founding partner at Icos Capital, said: “Collaborative corporate venturing is a model geared towards realising successful startup and growth companies because of commercial and technical involvement of strategic partners next to our hands-on support model.
“We are focused on highly innovative companies that engage in “win-win” commercial relationships with our partners.”
– The original version of this article appeared on our sister site, Global Government Venturing.