SCG Chemicals, a subsidiary of building materials producer Siam Cement Group, has provided an undisclosed amount of capital for Belgium-based venture capital fund manager Capricorn Venture Partners’ latest fund.
Capricorn Sustainable Chemistry Fund (CSCF) targets developers of fibre, jet fuel, food and feedstock technologies, innovative or sustainable agriculture processes and more functional materials.
The fund reached a €50m first close in late 2016 and has set a target of €100m to €150m ($129m to $193m) for its final close.
Jacques van Rijckevorsel, CSCF’s chairman, said: “As a former corporate executive I know what the added value of a fund investment can be for the innovation capability of a corporate investor.
“It does not only improve the reach of the innovation field, but it also broadens the view of the corporation beyond its current business areas. It provides a good view on technology and business possibilities that may arise beyond the horizon of the normal corporate business planning cycles and allow for early-stage option development.”