Germany: Promotion of Digital Startups BASF Announces Investment in Alchemist Accelerator Fund
BASF Venture Capital is investing $ 2 million into Alchemist Accelerator’s fund, allocating at least half towards investments in 3D printing, agtech, material informatics, nutrition, and technology game-changers.
San Francisco/USA; Ludwigshafen/Germany – This investment is in line with the chemical company's strategy to leverage digital technologies to drive business growth. That is why the group joined Alchemist as a Limited Partner. Markus Solibieda, Managing Director at BASF Venture Capital commented that by investing in a digitally-focused fund, his company promotes innovations at the intersection of chemicals and technologies like artificial intelligence, internet of things and robotics.
Since Alchemist’s debut in 2013, 24 companies funded by the initiative have been acquired and over a hundred have gone on to raise significant funding rounds from the top venture capital firms in the Silicon Valley — including Andreessen Horowitz, Bessemer Venture Partners, Draper Fisher Jurvetson, Foundation Capital, Founders Fund, Greylock Ventures, Menlo Ventures, Redpoint Ventures, Social + Capital Partnership, and True Ventures.
The Alchemist Accelerator seeds 75 startups per year and provides a structured path toward their first customers and fundraising. The 6-month program offers privileged connections to the top enterprise coaches, early adopter customers and investors. Alchemist just debuted Class 20 on January 23, 2019 to over 200 customers, partners, and investors at Juniper Networks in Sunnyvale.