Germany-based chemicals company Evonik Industries has invested €2.5m ($3m) in local seed investor High-Tech Gründerfonds’ (HTGF) second fund.

HTGF now has 13 corporate venturing units as limited partners in its funds, having closed its second fund at €291m last year.

Besides Evonik, the other corporate investors are: Altana, BASF, B. Braun, Robert Bosch, CEWE Color, Daimler, Deutsche Post DHL, Deutsche Telekom, Qiagen, RWE Innogy, Tengelmann and Carl Zeiss.

Alexander von Frankenberg, managing director of HTGF, said: "There is more to come. At least one more [corporate investor in our fund], probably two."

In January, Evonik set up its corporate venturing unit and last year invested €365m into research and development projects.

Separately, Maxwell Biotech Venture Fund (MBVF), founded with the participation of the Russian government-backed Russian Venture Company, made its first investment involving HTGF. MBVF invested in a newly-formed Russian biotech company, Hepatera, and a concurrent investment in the…

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