The CVC is now under the auspices of Solvay’s spin-off Syensqo, which focuses on areas including clean mobility, EV batteries and hydrogen.
Syensqo launched on Euronext on Monday. Image courtesy of Syensqo
Corporate venturing unit Solvay Ventures has been renamed Syensqo Ventures after its parent organisation, Belgian chemicals group Solvay, split into two entities.
The new parent company, Syensqo, will focus on clean mobility, electric vehicle batteries, green hydrogen and thermoplastic composites. Solvay, on the other hand, will continue to run companies working on mono-technology areas such as sodium carbonate, peroxide and silicon dioxide.
Founded in 2005, Syensqo Ventures is an €80m evergreen fund focusing on sustainable resources, energy transition, health and wellness, and industry 4.0. In addition to funding, it helps portfolio companies access Syensqo’s resources, business units and innovation platforms.
Matthew Jones, managing partner of Syensco Ventures, told Global Corporate Venturing that Solvay Ventures’ team and portfolio were now organised under the new group.
Syensco Ventures has 18 active portfolio companies including 3D nanotechnology developer Zeda and sustainable winding wire provider Tau. It has also made limited partner commitments to funds run by investment firms Longwater Investment, Richland Capital, Sofinnova Partners and IndieBio.
GCV Emerging Leader 2022 Coppelia Marincovic, a US partner at Syensco Ventures, is part of the seven-person team based in global offices across Brussels, Paris, New York and Shanghai.