Swiss Ciba Specialty Chemicals has announced that it is participating in the Pangaea Ventures’ Fund II, LP, and will be one of the lead investors in the fund together with BASF and Solvay. According to the company, this investment will strengthen Ciba’s access to promising early-stage innovations, and its network with other companies and institutions including universities, national research centres and venture capital firms.

“Developments in advanced materials and specialty chemicals will dramatically impact the way people live and businesses operate in the next decade and beyond,” said Martin Riediker, chief technology officer. “Such technologies and materials are evolving at a rapid pace. Ciba endeavours to be at the forefront of such advances. The improved access to new technologies provided by this investment complements our own in-house R&D activities. It will support our new product development activities and enhances our ability to pursue innovations which offer the greatest promise.”

Pangea Ventures is a venture capital firm focused on advanced materials and specialty chemicals that include nanotechnology and energy and environmental technology.