Monsanto’s venture capital unit is getting a new name and new management in the aftermath of Monsanto’s sale to Bayer that closed in June.
Monsanto Growth Ventures is now known as Bayer Growth Ventures, effective this month. It will be managed by the same group that oversees Bayer’s innovation arm, Leaps by Bayer.
When Monsanto, the Creve Coeur-based seed and chemical company, sold to Bayer, the German chemical and pharmaceutical company, questions arose about the future of Monsanto’s venture capital activities.
Leaps by Bayer will continue to lead Bayer’s efforts to create new companies, with Bayer Growth Ventures extending those efforts by focusing on seed funding. Bayer Growth Ventures will have operations in Berlin, Germany, Boston, St. Louis and San Francisco.
Leadership from Monsanto Growth Ventures left the company in April to join a San Francisco-based venture capital firm.
Read more: St. Louis Business Journal