The chemicals and materials conglomerate’s regional vehicle will back IoT and automotive startups in China, having already committed to a local growth fund.
Japan-headquartered chemicals and advanced materials producer Asahi Kasei has formed a corporate venture capital (CVC) unit in China, The Chemical Daily has reported.
Founded in 1922 as Asahi Fabric, Asahi Kasei initially concentrated on viscose rayon and synthetic ammonia production before adding areas including environment, home construction and healthcare to its business lines.
The corporate already runs an investment vehicle, Asahi Kasei Ventures, which was formed in its home country in 2008 before pivoting its focus to US and Europe-based…
