Solvay invests in Sofinnova fund

Dec 20, 2012 • Joanne Faulkner

Belgum-based chemical company Solvay invests $6.6m into Sofinnova Partners' Green Seed Fund for industrial biotechnologies.

Solvay, a publicly traded chemical group has made a €5m ($6.6m) commitment into the Green Seed Fund raised by France-based life sciences venture capital firm Sofinnova Partners. The fund recently closed at €22.5m.

The fund will be used to finance European small and medium-sized enterprises (SMEs) active in industrial biotechnologies. Other partners in the Green Seed Fund are agri-industrial primary processing company Siclaé, Sofiproteol, a VC firm promoting the devlopment of oilseeds, Unigrains, a private equity and venture capital…

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