Morris Plains, N.J.-based software-industrial company Honeywell (NYSE: HON) has launched a new investment fund.
Honeywell Venture Capital LLC, a wholly owned subsidiary of Honeywell, will invest in early-stage, high-growth technology companies that are strategically aligned to the company’s portfolio and software capabilities in
– Home and Buildings Technologies;
– Performance Materials and Technologies; and
– Safety and Productivity Solutions.
Examples of areas of interest are Internet of Things, Software and Analytics, Materials Science, and Advanced Materials.
The initial fund size is expected to be approximately $100m.
Honeywell Venture Capital will be led by Managing Director Murray Grainger, who joined Honeywell in 2004 and has most recently led the integration of Intelligrated, a $1.5 billion acquisition of a supply chain automation technology provider, which was completed by Honeywell in 2016.
He previously served in several other roles of increasing responsibility, including Vice President of Investor Relations; Vice President of Business Development and M&A for Honeywell Automation and Control Solutions; Vice President of Strategy and Marketing for Honeywell Performance Materials and Technologies (PMT); and General Management and Finance leadership roles within PMT.
Grainger holds a Master of Business Administration from Columbia University and a Bachelor of Engineering from The University of Sydney Australia.