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BASF Venture Capital invests in North American investment fund Pangaea Ventures Fund II


08/31/06 - BASF Venture Capital GmbH, Ludwigshafen, is investing in Pangaea Ventures Fund II, LP, a venture capital fund belonging to Pangaea Ventures Ltd of Vancouver, Canada. Pangaea Ventures invests in early-stage advanced materials, energy and environmental technologies as well as nanotechnology companies in North America.

This was the first close of Pangaea Ventures’ proposed US$50 million fund. BASF Venture Capital is one of the lead investors together with Solvay and Ciba Specialty Chemicals. Follow-on closings are expected shortly.

“Pangaea offers BASF Venture Capital new areas and segments for its North American investment activities,” said Josef Wünsch, Technical Managing Director of BASF Venture Capital. “We are impressed with Pangaea Ventures’ deal flow and its understanding of advanced materials.”

Wünsch added that Pangaea’s corporate focus complements the strategy of BASF Venture Capital to invest in companies, which fit into one of the growth clusters of BASF Group: energy management, raw material change, nanotechnology, plant biotechnology and white biotechnology.

“Advanced materials are having a significant impact on markets such as photovoltaics, water purification and organic electronics and we see some very exciting companies in these and other markets,” said Chris Erickson, Principal of Pangaea Ventures.

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 by providing venture capital to open up new growth potentials. In doing so, it focuses on companies with innovative business models and technologies in which chemistry is an important key to success. Investment is channeled toward companies that can demonstrate successful applications for their product developments as well as market demand. BASF also supports these companies with its expertise.

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 intelligent system solutions and high-value products help its customers to be more successful. BASF develops new technologies and uses them to open up additional market opportunities. It combines economic success with environmental protection and social responsibility, thus contributing to a better future. BASF has approximately 94,000 employees and posted sales of more than €42.7 billion in 2005. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA), New York (BF) and Zurich (AN). Further information on BASF is available on the Internet at


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