Turkey-headquartered petroleum refinery operator Tüpraş has provided an undisclosed amount of capital for Switzerland-based venture capital firm Emerald Technology Ventures’ Industrial Innovation Fund (EIIF).
Formed in 2016 as an evergreen fund, EIIF’s limited partners include corporate venturing units Caterpillar Ventures, Chevron Technology Ventures, GC Ventures and Henkel Adhesive Technologies. Liquid ink producer DIC is also among the LPs.
Charles Vaslet, a partner at Emerald Technology Ventures, said: “Emerald has been collaborating with international energy companies for a long time and, with the participation of Tüpraş, it will continue to strengthen this energy ecosystem and the industrial technologies that serve it.”
Levent Zağra, assistant general manager for investment and planning for Tüpraş, added: “As we develop a unique collaboration environment for innovation at Tüpraş, it is important that we have a network to help drive efficiency as meaningful connections must be forged, long-term interests aligned, and these complex relationships supported as they evolve.”
