Siemens Venture Capital launches $100m Industry of the Future Fund


Corporate VC group Siemens Venture Capital is to raise a new $100m fund targeting early stage deals in industrial automation and digital technology.

The Industry of the Future Fund will complement Siemens’ existing venture capital funds which typically invest in more mature start-ups, it said.

The new fund will back start-up companies early in their lifecycle and aims to foster partnerships with companies which will “transform industrial markets or even create completely new ones through pioneering technologies”.

Recent investments from the investment unit of the German multinational engineering and electronics conglomerate include cloud 3D rendering application Lagoa, and threat detection software developer CounterTack.

“As digitisation and software are becoming increasingly important for manufacturers to compete in the global marketplace, the Industry of the Future Fund will support Siemens’ “Industrie 4.0″ strategy by providing capital to those companies whose innovative technologies and vision have the potential to change the landscape of manufacturing and industrial automation,” said Siegfried Russwurm, CEO of the Siemens industry sector and member of the company’s managing board.

The Siemens industry sector is the world’s largest supplier of innovative and environmentally friendly products and solutions for industrial customers. With a global workforce of more than 100,000 employees, it comprises the divisions industry automation, drive technologies and customer services as well as the business unit metals technologies.

Siemens Venture Capital invests in early stage technology companies and established technology growth companies, focusing on the energy, healthcare, industry, and infrastructure and cities markets, with an aim to play a “key role” in Siemens’ global innovation network. To date, it has invested in about-180 start-up companies.

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