Biotechnology producer Novozymes and health and nutrition product manufacturer Royal DSM have helped found a Denmark-based non-profit venture capital partnership called Diva Ventures.
The corporates, which have supplied an undisclosed amount of seed funding for Diva, were joined by advocacy group World Business Council for Sustainable Development and pro bono law firm Pillsbury Winthrop Shaw Pittman.
Diva will invest in technology that can leverage existing corporate technologies, products and services to help bring about positive societal impact. It plans to raise external funds from impact investors before later moving on to commercial investors.
Rob van Leen, DSM’s chief innovation officer, said: “Corporate venturing is nothing new to DSM, but by partnering with Diva we aim to reach further into more radical high-impact sustainable business opportunities addressing the world’s societal challenges. This fits well with DSM’s fundamental business driver: sustainability.”