Syensqo Ventures is the venture capital arm of Syensqo, a spin-off from the Belgian group Solvay, specialising in advanced materials and chemistry. Following the conglomerate’s split in 2023, Syensqo Ventures inherited the legacy of Solvay Ventures, which has been active since 2005. “We initially invested in fund-of-funds to gain a foothold in the venture capital ecosystem. But from 2017 onwards, we shifted towards direct investments, aligning more closely with our strategic priorities,” explains Thomas Sayan, Partner at the fund.

Corporate Venture Capital: A strategy of acceleration and differentiation

For Syensqo, Corporate Venture Capital (CVC) is a tool for accelerating innovation and creating differentiation. “Unlike other corporate funds, we are not focused on improving operational efficiency but on generating new business opportunities,” says Thomas Sayan. The goal? To identify breakthrough technologies in areas where Syensqo can add significant value through its expertise and industrial capabilities.

Series A as the Sweet Spot

Syensqo Ventures operates with an evergreen fund of €80M, making investments ranging from €500,000 to €3M. The fund is “stage-agnostic,” meaning it can invest from seed to Series C and beyond. “Our sweet spot remains Series A, where we can play a key structuring role for startups, but we are also open to investing earlier or later if there is a strong strategic fit,” explains Thomas Sayan.

The fund takes a flexible approach to technology readiness but avoids projects that are too early-stage. “We invest when there is already at least a functional prototype or some material samples. The aim is to quickly test how these innovations can be integrated into industry,” he adds.

Although Syensqo Ventures has largely moved away from fund-of-funds investments, it maintains a few strategic positions. “For instance, we invested in Sofinnova Industrial Biotech II to build expertise in industrial biotechnology and in several Chinese funds to better capture local innovation,” says Sayan. However, these investments are now more selective, focusing only on specific fields the fund wishes to develop.

An investment thesis aligned with industrial transitions

Syensqo Ventures targets startups developing breakthrough innovations aligned with the group’s strategic megatrends. These include:

  • Electrification: Covering materials for batteries, fuel cells, and power electronics, as well as the infrastructure required for these technologies.
  • Lightweighting: Developing composite materials and manufacturing processes to reduce the weight of vehicles and aircraft, thereby lowering their energy consumption.
  • Resource Efficiency: Focusing on circular economy solutions, industrial biotechnology, and CO₂ capture.
  • AI and Digital Technologies: With a particular interest in advanced materials for semiconductors and AI-driven molecule discovery.
  • Health and Quality of Life: Supporting innovations in biocompatible materials for medical devices and new manufacturing methods in HealthTech.

Syensqo Ventures: A catalyst for Deeptech innovation

Firmly embedded in the Deeptech ecosystem, Syensqo Ventures is a long-time partner of Hello Tomorrow, one of the leading Deeptech conferences. “It’s a key moment for identifying promising startups and strengthening our network,” says Thomas Sayan.

Beyond investment, Syensqo Ventures plays a central role in Syensqo’s open innovation strategy. “We are often the first to identify startups that Syensqo could collaborate with. In 90% of cases, we initiate the discussions,” Sayan reveals. The fund actively facilitates industrial partnerships even before investing, always with the goal of co-developing business opportunities.