Toyobo joins European venture fund to accelerate growth in “sustainable chemistry” field
Toyobo Co., Ltd. has joined Capricorn Sustainable Chemistry Fund (CSCF), a venture capital fund operated by independent European fund manager Capricorn Venture Partners n.v., to make investments in growing companies in sectors such as functional materials, foods, feed products, textiles and fuels under the concept of “sustainable chemistry.” CSCF, which is based in Leuven, Belgium, held its second capital closing in December 2018, which brought the total amount of committed capital to 86.5 million euros.
In recent years, Europe has been an international trendsetter in dealing with key issues such as environmental protection. Toyobo believes gaining information and investing in growing companies by joining CSCF are essential to help expand its business. CSCF’s policy of investing in companies in chemistry-related fields neatly fits with Toyobo’s preferences. The fund is managed mainly by investment professionals who have worked in the chemical and biochemical sectors, making it well-suited to Toyobo’s objectives.
Toyobo will support venture firms as an observer of CSCF’s investment committee and gear its efforts in expanding its business undertakings in sustainable chemistry fields by using information on new technologies and businesses gained through the fund.
■ What is “sustainable chemistry”?
The Organization for Economic Cooperation and Development defines sustainable chemistry as “a scientific concept that seeks to improve the efficiency with which natural resources are used to meet human needs for chemical products and services. Sustainable chemistry encompasses the design, manufacture and use of efficient, effective, safe and more environmentally benign chemical products and processes.”
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Corporate Communication Department, Toyobo Co., Ltd.
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