Evonik deeply taps market potential in China

Recently, German specialty chemicals company Evonik announced that it has injected capital into Fuhua Angel Investment Fund (GRC) and Woyan Capital Phase III Venture Capital Fund

This investment is an additional investment after Evonik invested in the GRC Phase III Fund in 2015

It is reported that at present, Evonik has completed a number of investments in the Chinese market, including injecting capital into China's venture capital funds and direct investment in high-tech start-ups

When asked why we chose Fuhua Angel Investment Fund and Woyan Capital Phase III Venture Capital Fund, Evonik Cao Erning said: “These two Chinese funds focus on investments in advanced materials, green technology, manufacturing equipment, and digitalization

For this cooperation between the two parties, Evonik hopes to leverage its expertise in the innovation and application of advanced material solutions, and combine the two funds' experience in identifying investment opportunities, capital management and local innovation network construction to expand risks in China Investment activities, identify and seize business opportunities as early as possible

Not only did Evonik choose to inject capital into venture capital funds, Evonik has tapped into its market potential in production, research and development, and expanded its local presence in the hope of making greater achievements in the Chinese market

For example, in terms of production, this year, Evonik and China’s Zhejiang Xin’an Chemical Group’s newly-built fumed silica plant will be put into production in Zhenjiang, Jiangsu.

"Evonik will also expand its open innovation network and deepen cooperation with China's top universities, industry partners, and customers