Published on June 11th, 2013 | by Anneli Hidalgo0
Finnish MetGen receives funding
Emerald Technology Ventures has made the first investment from its third fund by backing Finnish industrial biotech business MetGen.
Emerald joins the Series A financing round which included Sofinnova Partners, Finnish Industry Investment, HST Partners, Finnvera and Cleantech Invest. Alex Michine, CEO and Founder of MetGen stated: “We are very proud to welcome such a high caliber investor to our company. Emerald’s deep domain expertise and global industrial network will be an important pillar in supporting our growth.”
Founded by the serial entrepreneurs Alex Michine and Prof. Alex Azhayev in 2006, MetGen developed a proprietary technology platform to modify naturally occurring enzymes. Today, MetGen Oy develops industrial enzyme solutions for the pulp & paper industry and non-food biomass transformation into renewable chemicals and fuels.
Emerald Technology Ventures is a globally recognized investor in the areas of energy, water and materials. Founded in 2000, Emerald has invested in fifty companies to date. From offices in Zurich, Switzerland and Toronto, Canada, Emerald has managed three venture capital funds and two venture capital portfolio mandates totaling over €340 million (USD 450 million). Fund investors include leading financial institutions and multinational corporations.