BASF Venture Capital GmbH (Ludwigshafen, Germany; www.basf-vc.com) is investing $2 million into Alchemist Accelerator’s (San Francisco, Calif.; www.alchemistaccelerator.com) fund, allocating at least half towards investments in -D printing, agtech, material informatics, nutrition, and technology game-changers. This investment supports BASF’s strategy to leverage digital technologies to drive business growth.
“Alchemist has built a strong reputation for attracting the best in the digital ecosystem. We are thrilled to officially join Alchemist as a Limited Partner”, says Markus Solibieda, managing director at BASF Venture Capital. “Digitalization represents unprecedented opportunities to create value for our customers and develop new business models. By investing in a digitally-focused fund, we promote innovations at the intersection of chemicals and technologies like artificial intelligence, internet of things and robotics”, Solibieda continues.
Since Alchemist’s debut in 2013, 24 companies funded by Alchemist 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.
“It is an honor to welcome BASF Venture Capital as a Limited Partner with Alchemist. Some of the most exciting innovations we are seeing, are at the nexus of the digital and material – few partners are as equipped to bring expertise in that area as BASF. We are thrilled to officially welcome BASF into the Alchemist family”, states Ravi Belani, managing director at Alchemist.
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.