Germany-based industrial product manufacturer Trumpf has launched a corporate venturing vehicle called Trumpf Venture and aims to build up a €40m ($45m) portfolio in the next five years.
Founded in 1923, Trumpf provides manufacturing products such as machine tools, lasers and electronics.
Trumpf Venture was established at the start of July this year but only formally announced last week. It is looking to invest in photonics, connected production technology, new manufacturing processes, smart components and high-tech material developers.
Christof Siebert, Trumpf’s head of technology management, said: “Once we get into our stride, we plan to participate in around five startups per year.
“As a strategic investor, we want to use our network, our industrial production expertise and our technological know-how to assist startups with market launch and successful growth.”
Siebert added that Trumpf Venture is in talks with prospective portfolio companies and hopes to begin investing soon.