Keshav Sharma Will Use the $100,000 O’Shaughnessy Fellowship Grant to Continue Building an Artificial Intelligence and Augmented Reality Platform That Enables Users to Create, Edit, and Demonstrate 3D Models at Scale

GREENWICH, Conn., June 30, 2023 — O’Shaughnessy Ventures LLC (“OSV”), an investment firm that empowers creators, has awarded an O’Shaughnessy Fellowship to Keshav Sharma. 

Sharma is a co-founder and the CEO of Augrade Private Limited. Augrade is developing an artificial intelligence and augmented reality platform that creates a 3D model from any input type and enables users such as architects and real estate developers to make real-time changes to the model using simple hand interactions. The platform will enable users to visualize data and materials and walk others through the space virtually.

OSV’s founder and CEO, Jim O’Shaughnessy, commented:

“Keshav’s dedication to developing technologies that augment human capabilities couldn’t be more aligned with OSV’s mission to help creators unleash their infinite potential. We’re excited to be able to support him in building the Augrade platform.”

Sharma said, “It always seems impossible until it’s done. So go out there and chase your dreams.”

About Sharma

Sharma lives at the intersection of design, technology, and marketing. He has been creating and selling products since he first developed and sold a remote-controlled boat at the age of twelve.

Since then, Sharma has run a drop-shipping business, created a portal to help artists and creators showcase their work, and created an AI platform for food and fitness during his undergraduate degree in computer science.

Currently, Sharma is focused on empowering people with spatial computing and enhancing how we all live, work, and play.

More information about Sharma can be found on his LinkedIn page.

About the Fellowship Program

OSV launched the Fellowship Program in 2023. It is a one-year program for ambitious people who want to build something great. Fellows receive a $100,000 grant and access to OSV’s network of founders, investors, and experts to support them in bringing their projects to life. 

OSV will award twelve Fellowships in total. Applications for Fellowships are now closed and will reopen on January 1, 2024. Creators interested in learning more can do so via OSV’s website.

About O’Shaughnessy Ventures

OSV is a creative investment firm that empowers and inspires creators to bring their ideas to life. Founded by Jim O’Shaughnessy, a pioneer in quantitative investing, founder of O’Shaughnessy Asset Management, and author of four books on investing, OSV aims to provide financial support and to partner in growing the next life-changing creative ideas. 

OSV combines Jim’s deeply rooted interest in all things art, science, investing, and tech with his long-held desire to establish scenarios designed to help promising creators and their inspiring ideas succeed, regardless of age, location, job history, or level of education. For more information, visit https://www.osv.llc/.

Contact: Ena Gong
O’Shaughnessy Ventures LLC
(917) 355-7420
[email protected]  

SOURCE O’Shaughnessy Ventures LLC

MUMBAI, India, June 30, 2023 — Avaada Group, a leading integrated energy platform, has announced the successful closure of INR 10,700 crore ($1.3 billion) funding round, marking a historic moment for the green energy industry in Asia and India’s renewable energy sector. This funding round is the largest equity round ever raised by any green energy company in Asia.

The funding will be used to bolster Avaada’s green hydrogen, green methanol, green ammonia, solar manufacturing and renewable power generation ventures, as part of India’s commitment to a sustainable future. This achievement underscores the effectiveness of government policies encouraging investment in green energy and the global transition towards sustainable energy solutions.

In a significant boost to its solar manufacturing capabilities, Avaada Group had previously won a production-linked incentive of INR 961 crore ($116.78 million) for 3 GW of wafer-to-module capacity under the PLI Scheme. This win, coupled with the successful funding round, further solidifies Avaada’s position as a leader in the renewable energy sector and underscores its commitment to harnessing green energy for a sustainable future.

Adding to its list of achievements, Avaada Energy Private Limited has won several tenders, amounting to almost 1.8 GW, in the last three months from corporate customers and utilities. This success demonstrates Avaada’ s ability to meet the growing demand for renewable energy and its commitment to delivering high quality, sustainable energy solutions.

Brookfield Renewables, through its Brookfield Global Transition Fund (BGTF), has earlier committed to investing up to INR 8,225 crore ($1 billion) in Avaada Ventures Private Limited. In addition, Global Power Synergy Public Company Limited (GPSC), an existing shareholder with a 42.93% equity holding in Avaada Energy Private Ltd (AEPL), has pledged to increase its capital by investing an additional INR 1,917 crore ($233 million) in AEPL, further supporting the company’s growth. This follows GPSC’s previous investment of INR 558 crore ($68 million) in AEPL in April, bringing their total investment in Avaada to around INR 6,037 crore ($779 million).

This successful funding round is a testament to India’s commitment to choosing innovation and technology over traditional energy sources. The country stands at a pivotal moment, with the potential to grow using either conventional energy or the latest green technologies. The choice of the latter is creating enormous opportunities through the global transition fund.

Vineet Mittal, Chairperson and Founder, Avaada Group, commented: “This funding round marks a significant milestone in Avaada Group’s journey and India’s energy transition. We are grateful for the support from our investors and the Indian government, which is enabling us to contribute to the global energy transition and deliver on our promise of a sustainable future.”

Mr. Worawat Pitayasiri, President and CEO of Global Power Synergy Public Company Limited (GPSC), said “Our decision to invest further in AEPL is based on our confidence in their strategic approach to the renewable energy sector, aiming to achieve at least 11 GW in 2026. AEPL’s commitment to renewable power generation aligns well with our own focus on sustainable growth and innovation.”

Avaada Group has diversified into manufacturing Green Hydrogen, Green Methanol, Green Ammonia, and expanded its footprint into the Solar PV supply chain with the manufacturing of solar cell and module. The company currently operates a renewable energy portfolio of ~4 GW and around 7 GW in different stages of implementation.

Logo – https://mma.prnewswire.com/media/2143606/Avaada_Group_Logo.jpg

SOURCE Avaada Group

AUSTIN, Texas, June 29, 2023 — Insurance-based mental healthcare provider Heading, specializing in treating patients with depression and trauma has raised $4.5 million in a Series A extension round. Leading the investment are Gron Ventures and Jam Fund, with additional support from the One Mind Accelerator, Thiel Capital, Mystic Ventures, Gaingels, and Antifund. This funding will empower Heading to scale into new markets and invest in its care delivery and analytics platform.

“A segregated and one-dimensional mental health system has failed patients, many who wait too long to experience care that offers real and lasting relief. We’re proud to have the support of like-minded investors who believe this needs to change,” shared Heading CEO & Founder, Simon Tankel. “Heading’s comprehensive, patient-first approach is supercharged for outcomes – faster. Personalized, combination-service care plans under one roof and accessible through insurance plans, rapidly improves the quality of life for our patients and their loved ones.”

Heading is a tech-enabled mental health care provider that urgently drives towards optimal outcomes for patients experiencing severe depression and trauma, particularly those that have been failed by past encounters within the medical system. Prioritizing interventions with the highest probability of clinical outcomes, such as Spravato^®, ketamine, and TMS as well as MDMA and psilocybin if approved, Heading clinicians monitor and integrate the latest research with real-time patient measurements to lower total cost of care, delivering value to health plans partners and broad access to those seeking the highest quality affordable care.

Heading drives patient outcomes through proprietary pathways incorporating psychotherapy, psychiatry, and nutrition together with interventional modalities, with plans for psychedelic therapeutics in the approval pipeline. With recent technology hire Maxim Osipov holding a PhD in Computational Psychiatry, Heading’s team are industry-veterans in clear-minded approaches to effective mental healthcare that prioritizes impact for those who need it most. 

Founded in Austin in 2020, Heading has locations in Austin and the Dallas-Fort Worth metros, with plans to expand further in 2023 in Dallas and Houston. Heading is an in-network provider with nearly every commercial payer in the state of Texas including BCBS of Texas, United Healthcare, Cigna, Aetna, and Tricare.

For media inquiries, please contact

Julia Lopez
Director of Marketing
(630) 779-2760

About Heading

Heading is an Austin-based mental health company founded in 2020 by Co-founder Steve Levine, MD and CEO, Simon Tankel. By combining evidence-based practices, personalized treatment plans, and a commitment to patient-centric care, Heading is transforming the mental health landscape and providing lasting relief to those in need. Today Heading offers a continuum of in-network mental health services for hard to treat conditions including interventional psychiatric services like intramuscular ketamine, Spravato^®, and TMS in their centers, along with psychiatry and therapy conveniently available through telehealth. Heading has locations in the Austin and Dallas-Forth Worth metros, with plans for further expansion in Dallas and a first location in Houston later this year.

SOURCE Heading

SAN FRANCISCO, June 29, 2023 — Bluedot, a single payment platform in the electric vehicle (EV) ecosystem, has completed another successful funding round, raising $5 million to enhance and expand its app and card for EV drivers and charging management for fleets.

With new investments from industry leaders including Y Combinator, Leap Forward, Samsara Ventures, Operator Stack, LACI Impact Fund, Ford Driventure, ScaleX and angel investors from Plaid, Stripe, and Moonpay, Bluedot is poised to build on its pioneering efforts to drive EV adoption and support a sustainable future by making charging payments easier and streamlining expense management.

Bluedot’s increasing momentum aligns with efforts across the country to accelerate the transition to electric, zero-emissions transportation. Currently, EVs account for 5% of new car sales in the United States, but the Biden administration has set a bold goal of increasing the EV market share to 50% by 2030. To encourage EV adoption, the federal government is investing in building 500,000 new public charging stations.

But charging remains a significant roadblock. Drivers often must manage multiple apps and cards for charging, impeding accessibility—especially for fleet drivers. Moreover, tracking charging behavior and expenses is difficult, leading to inefficiencies in overall operations. The issue is exacerbated by the complexities of reimbursement for charging expenses, particularly when home charging is involved.

Bluedot founders Ferhat Babacan and Selinay Parlak saw an opportunity to address the charging pain points faced by electric vehicle users and fleets. Their vision: to create a convenient fuel card platform, similar to Wex, but focused exclusively on EV driving and charging.

“From our experience installing charging stations and researching the EV user experience, we knew it was a hassle for individuals to use five different mobile apps for charging—or for fleet managers to use multiple dashboards and prepaid cards to handle fleet charging,” said Babacan, Bluedot CEO. “So we set out to simplify the whole process.”

With the recent investments, Bluedot plans to incorporate advanced features such as route optimization and home charging reimbursement into their mobile application and dashboard. These enhancements will improve the experiences of both fleets and drivers. Bluedot aims to play a pivotal role in increasing the utilization of EV charging networks and becoming a key player in this evolving landscape.

Working in close collaboration with Fleet Management Companies, OEMs, and rental companies, Bluedot plans to expand its portfolio to include new fleet verticals in the upcoming months. The company is also working to establish strategic partnerships to support EV access, simplify the individual and fleet experience and help further drive the industry forward.

Footer: Bluedot is not a bank. Banking services provided by Piermont Bank, Member FDIC. The Bluedot Visa Debit Card is issued by Piermont Bank pursuant to a license from Visa U.S.A. Inc. and may be used anywhere Visa cards are accepted.

CONTACT: [email protected]

SOURCE Bluedot

Small Cap IV, the firm’s latest growth private equity fund expands its geographical focus to include consumer, healthcare, and technology companies across North America

NEW YORK, June 29, 2023 — Cathay Capital Private Equity, a leading international investment firm, announces the final closing of $270 million for its latest growth private equity fund, Small Cap IV, to invest in healthcare, consumer, and technology companies across Europe, North America and Asia. The new fund is an expansion of Cathay Capital’s middle market strategy and brings assets under management to $5.5 billion.

Established in 2007, Cathay Capital has built a global ecosystem that brings together small and midsize companies, start-ups, investors, and some of the largest corporations to share in-depth sector and local market knowledge and resources to support growth.  The firm has completed over 100 private equity investments, including Biose Industrie, CPAP.com, Moose Knuckles, Juliette Has a Gun, and Innovative Motion Technologies (IMT).

Investing in High-Growth Companies
The latest growth private equity fund supports companies through scale-up strategies, international expansion, and accelerated digitalization. In addition to Europe and Asia, the new growth private equity fund’s geographic coverage will include North America for the first time. The fund will target investment in 15-20 healthcare, consumer, and software/technology companies with equity tickets of $15 to $25 million in control and minority investments. The Cathay Capital private equity team has already completed six investments in the new fund, including AD Education, a provider of education in creative fields; Chowsing, a manufacturer of pet nutrition and food; and Snocks, a fast-growing digital direct-to-consumer apparel brand.

“The addition of North America to the growth private equity strategy builds on our success with our mid-market funds and deepens our presence in North America, notably in healthcare and consumer,” said Mark Woods, Partner and Head of North American Private Equity at Cathay Capital. “We look forward to partnering with North American companies at an inflection point of growth and scale by leveraging our far-reaching ecosystem and resources to help them expand into domestic and international markets.”

“Our investment philosophy for SMEs leverages Cathay’s global ecosystem and deep-rooted understanding of local markets to transform small organizations into larger, global champions,” said Fabien Wesse, Managing Partner and Head of Small Cap at Cathay Capital. “Small Cap is one of Cathay’s most established investment strategies, having completed 75 growth private equity investments since inception, and today supporting founders with four transformation pillars: top-line growth, international expansion, digitalization, and impact. We look forward to continuing to support founders in developing these key value-creation drivers for a fast and sustainable growth trajectory.”

Cathay Capital’s latest fund is backed by a diverse group of existing and new global investors comprising sovereign wealth funds, institutional investors, corporates, and family offices.

About Cathay Capital
Cathay Capital is a global private equity and venture capital investment firm supporting companies throughout North America, Asia, and Europe. The firm helps middle-market companies and startups navigate the opportunities for international expansion and sustainable transformation. Cathay is the partner of choice for companies aspiring to lead markets and make a positive impact. Its platform connects people with global reach and local expertise – from investors and entrepreneurs to management teams and leading corporations – to share knowledge, the tools to scale and to transform businesses.

Founded in 2007 with a strong entrepreneurial heritage, Cathay Capital now manages more than $5.5 billion in assets. It has made over 250 investments in verticals including healthcare, technology, and consumer from offices in Paris, New York, San Francisco, Munich, Berlin, Shanghai, Beijing, Shenzhen, and Singapore.

Media contact:
Mary Magnani, CodePR
[email protected]com

SOURCE Cathay Capital

Milestone comes as women and minority-led businesses continue to be underfunded

NEW YORK, June 29, 2023 — Capchase, the leading provider of financing solutions for Software-as-a-Service companies, today announced a milestone for its 2021 initiative to provide non-dilutive capital to women and minority-led startups. Over the last two years, the company has deployed more than $100 million in funding to these underserved groups using the company’s proprietary AI technology to increase the speed at which the funds were deployed.

Funding for founders who identify as a woman or as a person of color has always been disproportionately small. The economic downturn in 2022 that caused venture investment to decline by more than 50% only exacerbated the issue. In the U.S. only 2% of total venture capital funding during 2022 went to women-founded startups, and minority-founded companies only received 1.8% of total funding. The issue of equality in startup funding goes beyond the U.S. – women-only teams in Europe received just 1% of total capital in 2022 and minority-founded startups raised 0.7%.

“Global venture capital funding has fallen dramatically and startups in general are continuing to have a difficult time securing funding. We all have a role in improving equality in the technology industry and providing women and minority founders with the funding they need to grow is one of the areas where we knew we could help,” said Miguel Fernandez, co-founder and CEO of Capchase. “At Capchase our data-driven approach to providing revenue-based financing gives us the ability to support brilliant women and minority founders without the inherent bias typically found in traditional funding processes.”

Despite the headwinds, these founders have proven to be successful entrepreneurs, with female-founded startups maintaining a lower median burn rate than male-founded startups — an important metric for startup health, longevity, and growth when capital is harder to receive. The data supports why the $100 million initiative was successful – Capchase bases funding decisions on the applicant’s company’s revenue, subscription, and financial data, ensuring all founders are given an equal opportunity to receive funds, grow their businesses and retain their equity.

“As an immigrant, woman, and founder, it’s no secret funding can be more difficult to receive. Capchase understands deploying capital to diverse founders can create greater opportunities for individuals and innovation,” said Flora Azucena, CEO and founder of Alchemy Vision. “The financing provided by Capchase allows our team at Alchemy Vision to focus on our mission of supporting patient care and practice growth, as well as my personal mission to teach, lead, and inspire the medical staff providing care in this noble profession.”

Capchase will continue to support female and minority-founded startups through the use of its technology that determines eligibility and draw amounts on applicant startup fundamentals and scenario analysis.

To learn more about Capchase’s suite of products, including the recently launched Capchase Pay,  a buy now pay later product created to decrease the length of SaaS sales cycles and close deals faster, please visit www.capchase.com.

About Capchase

Capchase is the growth partner for ambitious software-as-a service (SaaS) and comparable recurring-revenue companies. Our mission is to empower SaaS companies to grow faster through non-dilutive capital, payments and revenue acceleration software. Founded in 2020 and headquartered in New York City, Capchase provides financing by bringing future expected cash flows to the present day – thereby securing funding that is fast, flexible, and doesn’t dilute ownership. To date, Capchase has worked with more than 4,000 businesses and partners, and made $2 billion in funding available to the SaaS industry. To learn more about Capchase visit capchase.com.

SOURCE Capchase

Transaction will bring 3×5 Partners investment team to American Century to lead its entry into private markets

KANSAS CITY, Mo., June 29, 2023 — American Century Investments®, a more than $200 billion* global asset manager, announced its planned entrance into the rapidly growing private markets with the impact venture capital team from 3×5 Partners joining American Century to lead its new private impact investment capabilities. Nicholas Walrod, Tony Arnerich, and Joe Biller, managing partners of 3×5 Partners, will lead the new private impact investment team and report to Victor Zhang, chief investment officer for American Century. The new team has more than 10 years’ experience in private impact investments and will bring that experience to American Century. 

 “We are always thinking about how we can best serve clients and looking for innovative solutions to their investment needs. In adding the 3×5 Partners team, we will grow our capabilities for our clients across the globe who are increasingly allocating to private markets, allowing us to be a more complete asset manager for our clients,” said Jonathan Thomas, president and CEO of American Century.

American Century expects its new private market investment capabilities to most interest its global institutional clients, as well as clients of high-net-worth financial professionals. The venture capital team coming from 3×5 Partners expects to benefit from American Century’s distribution, investment, and operations infrastructure while continuing to operate out of Portland, Oregon. The transaction is scheduled to be completed in the third quarter, subject to closing conditions being met.

“For more than 60 years, we have expanded our investment capabilities to offer clients solutions that help build their optimism and trust in their financial futures – from honing actively managed funds to our most recent growth and success in ETFs. And we have expanded who we serve – from individual investors to institutional investors and financial advisors. Expanding into private markets will be an exciting progression of our investment capabilities as we help our clients reach their financial goals,” said Zhang.

3×5 Partners’ history of performance
Founded in 2011, 3×5 Partners has been seeking out companies that are delivering advancements in energy, food, water, shelter, health care, sanitation, and climate and environmental sustainability. The team has experience managing, individually or jointly, more than $500 million in the health care and climate solutions sectors.

“Our commitment to delivering returns for clients while doing good is part of the strong alignment of purpose with American Century. American Century’s impact on global health makes it a natural and inspiring fit for us to continue our work,” said Walrod.

Beyond its integration of financially material, sustainability-related factors into many of its investment processes in order to help deliver better long-term, risk-adjusted returns for its clients, American Century has made an impact on global health since 2000, when its founders bestowed an equity stake in the firm to the Stowers Institute for Medical Research. Since then, the Stowers Institute has received nearly $2 billion from this unique ownership structure.

RBC Capital Markets provided strategic advice in this transaction.

About American Century Investments
American Century Investments is a leading global asset manager focused on delivering investment results and building long-term client relationships while supporting breakthrough medical research. Founded in 1958, American Century Investments’ 1,400 employees serve financial professionals, institutions, corporations and individual investors from offices in New York; London; Frankfurt; Hong Kong; Sydney; Santa Clara, Calif.; and Kansas City, Mo. Jonathan S. Thomas is president and chief executive officer, and Victor Zhang serves as chief investment officer. Delivering investment results to clients enables American Century Investments to distribute over 40% of its earnings to the Stowers Institute for Medical Research, a 500-person, nonprofit basic biomedical research organization. The Institute owns more than 40% of American Century Investments and has received earnings of nearly $2 billion since 2000. For more information about American Century Investments, visit www.americancentury.com. 

*Assets under supervision as of 5/31/23.

©2023 American Century Proprietary Holdings, Inc. All rights reserved

Many of American Century’s investment strategies incorporate the consideration of environmental, social, and/or governance (ESG) factors into their investment processes in addition to traditional financial analysis. However, when doing so, the portfolio managers may not consider ESG factors with respect to every investment decision and, even when such factors are considered, they may conclude that other attributes of an investment outweigh ESG considerations when making decisions for the portfolio. The consideration of ESG factors may limit the investment opportunities available to a portfolio, and the portfolio may perform differently than those that do not incorporate ESG considerations. ESG data used by the portfolio managers often lacks standardization, consistency, and transparency, and for certain companies such data may not be available, complete, or accurate.

Contact:          Susan Waldron
                       (816) 340-3792

SOURCE American Century Investments

TORONTO, June 29, 2023 — The University of Toronto Mississauga (UTM) announced Aly Madhavji as the recipient of the 2023 Desmond Parker Outstanding Young Alumni Award at the historic Glenerin Inn. A fervent advocate for public service and human rights, Aly exemplifies the spirit and dedication to community embodied by Desmond Parker, former Chief of Protocol at the United Nations.

After expressing his dismay at not having been able to attend the prestigious award’s ceremony for the past 6 years, the award’s namesake Desmond Parker was able to present the award by saying, “for your leadership; for your volunteerism; for your achievements; you are truly an inspiration for all alumni and I am honoured to be here to look you in the eye and present this award to you. Congratulations.”

The Desmond Parker Outstanding Young Alumni Award recognizes inspirational young alumni of UTM and was named in recognition of Desmond Parker, a renowned UTM alumnus. It is one of three UTM Alumni Awards of Distinction.

Aly Madhavji, a celebrated alumnus of UTM, is Managing Partner at Blockchain Founders Fund, a successful Web3 VC firm. He is also a consultant to the United Nations, working with the organization to identify how FinTech & Blockchain solutions can help alleviate poverty, support business ecosystems, create financial inclusion, and improve society at large.

Aly Madhavji, a dedicated author and advocate for education, has written several books specifically for university students and recent graduates. His best-seller, “Your Guide To Succeed In University,” remains a top-rated resource among readers. In a generous act of giving back to the community, Aly provides this e-book for free to students and young professionals worldwide. Additionally, he frequently volunteers his time for speaking engagements at various educational and community events.

When asked for comment, Madhavji elaborated, “I am deeply humbled to be the recipient of [this] Award. This recognition is a testament to the relentless pursuit of learning, serving, and connecting that [UTM] instills in its students. Beyond my achievement, it’s an accolade for every individual who has been a part of my journey at UTM and beyond. I urge everyone to strive not just for success, but to create real value. Together, we can make our community and world a better place.” – Aly Madhavji

The Desmond Parker Outstanding Young Alumni Award pays tribute to UTM alumni aged 40 and under, recognizing their professional achievements and inspirational community service. Previous awardees, such as Rumeet Billan and Alfredo Tan, have continued to excel in their respective fields.

About Blockchain Founders Fund

Blockchain Founders Fund (BFF) is a Singapore-based early-stage Venture Capital Fund that invests in top-tier Blockchain startups globally. Their industry-leading go-to-market focused Venture Program aids seasoned and first-time entrepreneurs across key business functions to fast track growth. BFF has scaled many of the leading Blockchain startups and is always looking to connect with exceptional founders across the industry, including Web3, metaverse, gamefi, DeFi, and NFT.

Media Contact:
Skye Cornell
+6582034146
[email protected]com

SOURCE Blockchain Founders Fund

ROTTERDAM, Netherlands, June 29, 2023 — LyondellBasell (NYSE: LYB) today announced its investment in a new Carbon Neutrality Fund led by Chrysalix Venture Capital. The fund will support emerging companies developing and deploying new low-carbon technologies, focusing on hard-to-abate sectors, such as the chemicals industry. These investments expand LyondellBasell’s venture capital activities to help advance its ambitious sustainability goals.  

“Sustainability is integrated into our business strategy, and we are confident the Carbon Neutrality Fund will help us advance our industry-leading climate goals, as we create value, and develop products and solutions that contribute to a better tomorrow,” said Jim Seward, executive vice president and chief innovation officer at LyondellBasell. “Chrysalix Venture Capital has an established track record of investing in new climate technologies and a strong focus on developing innovative solutions for hard-to-abate sectors, including chemicals.”

“We are pleased to welcome LyondellBasell and other leading international investors to the Carbon Neutrality Fund,” said Fred van Beuningen, Managing Partner at Chrysalix Venture Capital. “Working closely with our Limited Partners, the Fund will connect leading companies with outstanding entrepreneurs, linking market driven problems to innovative solutions while seizing the value creation opportunity of carbon neutrality. Technologies that support carbon neutrality offer a value creation and a new business opportunity, companies with a proactive carbon strategy will create long term sources of differentiation.”

In addition to Chrysalix, LyondellBasell has invested in Closed Loop Circular Plastics Fund, Infinity Recycling, and HX Venture. These venture capital funds are focused on accelerating the development of infrastructure and recycling technologies needed to address plastic waste challenges in North America, Europe, and Asia. These investments align with the company’s goal that for every dollar LyondellBasell invests in venture funds addressing critical sustainability challenges, the company helps catalyze another five dollars from co-investors.

About LyondellBasell
We are LyondellBasell – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world’s largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.

Forward-Looking Statement for LyondellBasell
The statements in this release relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management of LyondellBasell which are believed to be reasonable at the time made and are subject to significant risks and uncertainties.  When used in this release, the words “believe,” “may,” “will,” “expect,” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Actual results could differ materially based on factors including, but not limited to, our ability to successfully develop or deploy low-carbon technologies, meet our sustainability goals or connect with other leading companies and entrepreneurs. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the “Risk Factors” section of our Form 10-K for the year ended December 31, 2022, which can be found at www.LyondellBasell.com on the Investors page and on the Securities and Exchange Commission’s website at www.sec.gov.

SOURCE LyondellBasell