The mining and steel company has formed a subsidiary called Severstal Ventures that will invest in startups and funds.
Steel and mining company Severstal has formed a corporate venture capital fund called Severstal Ventures that will invest in advanced materials and associated technologies.
The unit will invest in startups directly in addition to VC funds, and was announced alongside news that Severstal subsidiary Melsonda Holdings has provided an undisclosed amount of capital for Pangaea Ventures Fund IV, the latest fund being raised by VC firm Pangaea Ventures.
Andrey Laptev, Severstal’s director of business development and corporate venture projects, said:…
