BASF invests in Chinese advanced materials fund
![](https://assets.bizclikmedia.net/138/256741cf18653762c03e18bc71d144e5:7b67a5cd05c10dd593eee30480a2bc93/gettyimages-922766090-jpeg.webp)
BASF, the German chemical producer, has announced its investment in an advanced materials private equity fund managed by the Shanghai based Longwater Investment.
The investment was carried out via their subsidiary BASF Venture Capital. Markus Solibieda, managing director of BASF Venture Capital, said: “This investment underlines our commitment to further expanding BASF’s innovation capabilities in China. Longwater’s experts are well versed in China’s chemical industry. Involvement in Longwater’s network will support BASF’s aim to engage with fast-growing companies and develop jointly with them innovations for its customers.”
The Longwater Advanced Materials Fund was selected by BASF Venture Capital owing to what it describes as Longwater’s strong network, spanning from chemical technology and material startups to industry verticals and domestic and global market leaders. BASF goes on to say that they will benefit from the inclusion of strategic partners and investors who can create synergies among the stakeholders.
SEE ALSO:
-
Emerson chosen by BASF to upgrade automation at its chemical plant
-
BASF and Lactips sign exclusive biodegradable material contract
“We are happy to welcome BASF Venture Capital as a Limited Partner in our network,” said Xuesong Shi, managing director of Longwater. “BASF is a widely respected global market leader in the chemical and materials sector. BASF Venture Capital, which supplements BASF’s innovation initiatives, has extensive access to and insights into various related segments and shares a common philosophy and vision with Longwater Investment as regards smart energy, sustainability, chemical-industry digitalization, and much more. The partnership will facilitate synergetic collaboration between BASF Venture Capital and Longwater Investment.”
BASF are one of several partners in the fund, including Xiamen C&D, CICC Genesis and Tsinghua Redbud.
- The Merck Group: China & India, History & Innovation Part 2Procurement & Supply Chain
- The Merck Group: China & India, History & Innovation Part 1Procurement & Supply Chain
- Chinese Clean Car Manufacturers Excel in EuropeSustainability & ESG
- Apple's iPhone 15 manufacturing begins in IndiaTechnology