The corporate's specialty product offshoot will house investment vehicle Solvay Ventures, Matt Jones and Coppelia Marincovic told Global Corporate Venturing.
Corporate venture capital (CVC) unit Solvay Ventures will be retained by one of the two publicly traded entities into which Belgium-based advanced materials and chemicals producer Solvay is set to divide.
The company announced the split last month, and Solvay Ventures will be transferred to an entity preliminary dubbed SpecialityCo, which will take on higher-growth, higher-margin businesses like specialty polymers, aroma chemicals, aerospace composites and assorted ingredients for consumer products.
The other side of the business, tentatively called EssentialCo, will mostly be home to commodities and product lines like soda ash, peroxides and silica.
Matt Jones, managing director for Solvay Ventures North America, told Global Corporate Venturing: “Everything that is going with the SpecialtyCo, I think is all in line with what we are doing in venture.”
SpecialityCo will have a higher proportion of senior leadership that understands and takes an interest in what Solvay Ventures does, according to Coppelia…
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
