Chilean Pulp Giant CMPC Eyes Venture Capital Deals With New Unit
- CMPC Ventures in talks to invest in three startups, head says
- Seed investments will help CMPC “envision our next 100 years”
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Chilean pulp giant Empresas CMPC SA is in talks to invest in three startups through its newly created venture capital division as part of plans to finance innovative firms and boost demand for its products.
The unit already led a $240,000 seed capital round in May for Santiago-based Strong-by-Form, a company that is designing wood-based composite materials for lightweight constructions and for vehicle chassis and body parts. CMPC plans to invest in Strong-by-Form’s next funding rounds once it reaches specific targets, Bernardita Araya, head of CMPC Ventures, said in an interview.