BioAmber has raised $30m in pre-IPO funding, with $10m coming from chemicals group Lanxess, which has launched a manufacturing partnership with the feedstocks company.

Corporate venturing unit Chesapeake NG Ventures seals its latest deal with 3M, to work together on compressed natural gas tanks, after the gas company unveiled a $1bn fund last year.

The level of corporate participation in the venture industry is welcomed by industry insiders although one market commentator warns the numbers could point to the end approaching in the latest technology cycle.

Evonik's new Corporate Venturing unit will be within its Innovation Management division and invest in start-ups and venture capital firms across Europe, the US and Asia.

The Germany-based chemicals company invests the sum in the battery maker after inking a joint development agreement in 2009.

Legend Capital, the corporate venturing unit of China-based computer group Legend, and state-backed China-Belgium Direct Investment Fund have taken a minority stake in local conglomerate Wulong's car parts company Wenzhou Yilong Automobile Parts for RMB40m to RMB60m.

Praj will buy 50.2% of Neela for R64 crore from Tata, stock market investor Rakesh Jhunjhunwala and the Norwegian sovereign wealth fund, according to news provider VC Circle.

The two corporates sell their stakes in the oil and gas exploration company to their fellow investor Hindustan Petroleum Corporation after setting up the company in 1998.