Pangaea Ventures Fund II, LP adds Asahi Glass, Umicore and Bekaert

Pangaea Ventures Ltd. announced today that Asahi Glass, Umicore and Bekaert have invested in Pangaea Ventures Fund II, LP. These strategic Limited Partners join existing strategic investors BASF Venture Capital, Solvay, Ciba Specialty Chemicals and Toyota Tsusho America. The fund is focused on cleantech and advanced materials and has closed with US$32 million in commitments.

Chris Erickson, Principal of Pangaea Ventures, stated, "Pangaea Ventures is very pleased to have Asahi Glass, Umicore and Bekaert join the fund. With our focus on early-stage cleantech and advanced materials, we believe it is invaluable to have the support of these global market leaders."

Purnesh Seegopaul, Principal of Pangaea Ventures, added, "It's exciting to partner with these leading corporations as we work alongside companies delivering innovative solutions that facilitate the growth of the cleantech and advanced materials markets."

Hiroyuki Watanabe (General Manager, Technology Planning at Asahi), Marcel Meeus (Senior Manager Technology Scouting at Umicore) and Frans Van Giel (Vice President, Business Development at Bekaert) have joined Pangaea's advisory board.

Pangaea Ventures Fund II, LP has made four investments to date including, Cyrium Technologies Incorporated, Kovio, Inc., Switch Materials Inc. and CNano Technology Limited.