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| BASF Venture Capital invests in North American investment fund ARCH Venture Fund VII
BASF Venture Capital America Inc., Fremont, CA, has invested in ARCH Venture Fund VII – a venture capital fund managed by ARCH Venture Partners, Chicago, IL. ARCH invests at a very early stage in start-up companies from the material science, life science, as well as information technology and biotechnology sectors in North America. The majority of these start-ups have been spun off from universities or national research laboratories. | |||
| 11 Dec 2007
: BASF Venture Capital America Inc., Fremont, CA, has invested in ARCH Venture Fund VII – a venture capital fund managed by ARCH Venture Partners, Chicago, IL. ARCH invests at a very early stage in start-up companies from the material science, life science, as well as information technology and biotechnology sectors in North America. The majority of these start-ups have been spun off from universities or national research laboratories. The total volume of the ARCH fund will be roughly $400 million fund. BASF Venture Capital will invest $5 million. Other investors in the fund are primarily universities, pension funds and financial institutions. “ARCH is one of the most-respected venture capital funds in the U.S., supported by an impressive management team. ARCH will complement our strategy of investing in innovative companies that are active in BASF Group’s five growth clusters – energy management, raw material change, nanotechnology plant biotechnology and white (industrial) biotechnology,“ said Keith Gillard, Principal of BASF Venture Capital America. In addition, BASF will benefit from ARCH’s excellent network of more than fifty North American universities and national laboratories. This will allow BASF Venture Capital to gain information about new technology trends and attractive potential investments at an early stage. Keith Crandell, ARCH co-founder and Managing Director, commented, “We are extremely pleased to have BASF Venture Capital as an investor and we welcome them as a partner in developing and commercializing new technologies. BASF has a long, distinguished history of technical expertise, industry achievement, and in nurturing emergent technologies. With such a broad base of success, BASF clearly understands the business and technical challenges faced by companies in the nascent stages of development. ARCH Venture Partners ARCH Venture Partners focuses on developing seed and early-stage technology companies emanating from universities, national laboratories, and corporate research laboratories. ARCH is one of few venture firms of its size that concentrates on the creation of new companies based upon scientific research and the resulting technologies. ARCH is a leader in investing in breakthroughs in life sciences, physical sciences, and information technology, and in the increasing convergence of such technologies. With over $1 billion under management, ARCH has invested in the earliest rounds of more than 120 companies over a 20-year history. BASF Venture Capital BASF Venture Capital GmbH was established in 2001 as a wholly owned subsidiary of BASF Future Business GmbH, Ludwigshafen, Germany, and participates in startup companies and funds. In doing so, it focuses on companies with innovative business models and technologies in which chemistry is an important key to success. This includes above all companies that are active in BASF AG’s five growth clusters: energy management, raw material change, nanotechnology plant biotechnology and white (industrial) biotechnology. These cross-sectional technologies are outside the realm of the classical disciplines and can only be brought to fruition by interdisciplinary and international cooperation. Between 2006 and 2008, a total of €920 million will be allocated for the research activities pursued within the five growth clusters. BASF is the world’s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products, agricultural products and fine chemicals to crude oil and natural gas. As a reliable partner to virtually all industries, BASF’s high-value products and intelligent system solutions help its customers to be more successful. BASF develops new technologies and uses them to meet the challenges of the future and open up additional market opportunities. It combines economic success with environmental protection and social responsibility, thus contributing to a better future. BASF has approximately 95,000 employees and posted sales of €52.6 billion in 2006. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is available on the Internet at www.basf.com. |
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