As managing director, Bernhard Mohr was tasked with setting up Germany-based chemicals company Evonik’s corporate venturing unit last year. He joined the company having spent five and a half years working at Germany-based chemicals company BASF’s corporate venturing unit. Before moving to BASF Venture Capital, Mohr held multiple roles across BASF. Between 1985 and 1996 he studied chemistry at a number of universities.

Mohr said: “For a corporate venturer, it is essential to precisely define the objective of the venture capital activities and establish a close link to the parent’s open innovation programmes and business interests. The goal of our innovation activities is to maintain and expand our high technological competence over the long run.”

Mohr added: “Venture capital supplements Evonik’s existing innovation processes and structures by creating excellent opportunities for accelerating the development of new businesses and opening up future growth fields. Working closely with our business divisions and technology and market experts, we want to be an active and reliable partner for our venture investments and support their successful growth not only financially, but also with technical expertise and strategic insight.”

What is the future of your sector?

Mohr said: “I see excellent perspectives for top corporate venturers ahead although we operate in a challenging environment. It was absolutely the right time for Evonik to engage in venture capital despite the general decline in fundraising and investment activities over the past two years. We observe that many institutional funds have serious issues in raising new capital, partly due to performance problems, longer exit periods and higher-than-expected capital needs. Starting and funding a venture or a fund in such an environment is difficult but provides excellent growth opportunities. In such a challenging environment corporate venturing firms can not only provide capital but can help to accelerate the growth and development of a start-up company by leveraging on technical expertise, international market access and strategic support.“