BASF Venture Capital invests $5 million in China Environment Fund IV
“China has a large number of highly innovative and sustainable technology companies of great strategic importance for BASF. Our participation in CEF IV enables us to set up joint activities with these companies in China. We also gain better access to technology areas of future potential and innovative chemical system solutions in the field of new materials,” said Johnnie Yuen, Regional Head at BASF Venture Capital in Asia Pacific. CEF has already demonstrated its performance track record in its three existing funds. “The performance to date and the outstanding fund management were further reasons for us to participate in CEF IV,” added Yuen.
Tsing Capital was established in 2001, and is the first fund manager investing in Chinese cleantech and environment related companies with an aggregate of assets under management over $600 million. China Environment Fund invests in portfolio companies across China in areas of renewable energy, energy efficiency, environmental protection, new materials, sustainable transportation, smart grids, sustainable agriculture and cleaner production.
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