Syngenta to invest in new venture fund focused on plant science
Syngenta announced the launch of a $100m venture fund, LSP BioVentures, based in Boston to be managed by Life Sciences Partners (LSP), a biotech venture capital firm. Funds will be invested over a three to five year period as appropriate opportunities arise.
David Jones, Head of Business Development at Syngenta, said: "This Fund will invest in growth companies and technology start-up opportunities. The investment scope of the Fund is crop biotechnology, crop protection, professional products and new growth areas such as biomaterials and biofuels. Along with sound financial returns, we aim to secure early co-operation with emerging innovators in our sector."
"We are excited about cultivating creative opportunities through this new Fund and, in particular, look forward to working with Syngenta," said Martijn Kleijwegt, Managing Partner of LSP. "We expect LSP BioVentures to attract and support entrepreneurial talent and technology that will benefit from being in a ventures-driven environment."
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