Leverkusen, Germany-based specialty chemicals company Lanxess made a low seven figure investment in High-Tech Gruenderfonds II.
The investment brings the number of investors from German industry to 17 and raises the current fund volume to EUR 301,5m.
Lanxess develops, manufactures and sells plastics, rubber, specialty chemicals and intermediates It achieved sales of €9,1bn in 2012 and currently employs approximately 17,200 people at 48 production facilities in 31 countries.
Commenting on the investment, Dr. Paul Wagner, Group Leader for Function, Innovation & Technology with LANXESS, said: “Our investment in HGTF II will give us insight into the technologies and trends that emerge from the innovative, German start-up market and help broaden our perspective beyond that provided by our own Research and Development team”.
HGTF II tipically invests €500k in the seed stage of any startup, with the potential for up to a total of €2m per portfolio company in follow-on financing.
FinSMEs
15/04/2013