Pangaea Ventures Fund IV, L.P. is a $100 million venture capital fund investing in advanced materials multi-trillion dollar markets: energy, electronics, health, and sustainability.
The Principals are Chris Erickson, Purnesh Seegopaul, Keith Gillard, and Andrew Haughian. Together, the Principals have been investing in this space since 2001 and are recognized as world leaders in advanced materials venture capital. Not only have they built successful advanced materials companies but they have deep technical, financial, legal, and business experience in the space.
The Fund allocates approximately 80% to investment in growth stage companies with commercial products, approximately 20% to pre-revenue companies with breakthrough innovation.
This is Pangaea Ventures’ fourth fund in advanced materials. Pangaea Ventures Fund LP was formed in 2001, Pangaea Ventures Fund II, LP in 2006, and the most recent fund, Pangaea Ventures Fund III, LP (“Fund III”) was formed in 2011.
Pangaea Ventures has strategic relationships with some of the world’s largest industrial, material, and chemical companies, twenty-one of whom have invested in Pangaea funds: Asahi Kasei, AGC, BASF, Bekaert, BP/Castrol, CoorsTek, Doosan, Evonik, Henkel, JSR, Lam Research, Murata, Nitto Denko, Mitsubishi Chemical Holdings, SABIC, Samsung, Sekisui, Solvay, TOSOH, Toyota Tsusho, and Umicore. These companies have identified advanced materials innovation as a pillar for their growth strategy for the next decade.
Pangaea Ventures’ position as the leading advanced materials venture capital firm allows it to source high quality deals and lead syndicates for investment. Pangaea Ventures led or co-led the investment syndicates in all but two of the companies in Fund I, and all but one company in each of Fund II and Fund III.
Example portfolio companies include Aspect Biosystems (3D printing of living human tissue), Calysta (protein from natural gas), CarbonCure (CO2 process to strengthen concrete), ESS (all-iron flow battery), Redlen (medical and security imaging), and Vestaron (environmentally benign pesticides). Past exits include Semprus Biosciences (acquired by Teleflex in 2012), Boulder Ionics (acquired by CoorsTek in 2014), Pionetics (acquired by Rayne Water in 2009), and Kovio (acquired by Thinfilm in 2014).