Rhodia buys stake in Phoenix Venture Partners

Rhodia buys stake in Phoenix Venture Partners

12:30 PM, 25th March 2011
Rhodia buys stake in Phoenix Venture Partners

 

With a focus to strengthen its innovation potential, Rhodia has acquired an equity interest in the investment fund.

 

PARIS, FRANCE: Rhodia has acquired an equity interest in Phoenix Venture Partners LP, an investment fund focused on the financing and development of innovative technology start-up companies. This fund targets companies working primarily on advanced materials, investing chiefly in North America and to a lesser extent, in Europe and Asia.

 

Following its recent acquisition of a stake in the Europe-based Aster II venture fund, Rhodia’s Phoenix investment is a further step in the company’s approach to open innovation. The two complementary funds - which target different geographical zones and company profiles - will help boost Rhodia’s innovation potential in strategic markets.

 

Phoenix will now include Rhodia’s strategic priorities in the area of green chemistry, biosourced materials or advanced materials when scouting start-up candidates. The companies in the investment fund’s portfolio will benefit from Rhodia’s expertise in addition to the group’s global network.

 

 “This new equity interest strengthens our open innovation approach. Through Phoenix Venture Partners, we will have preferred access to breakthrough innovations developed in North America,” said Stéphane Roussel, Director, Rhodia Ventures platform.

(C)WOC News

 

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