COMFORTDELGRO : invested four million euros (S$5.7 million) in a venture capital (VC) impact fund dedicated to supporting startups in the sustainable mobility sector. The investment in Shift4Good was made through ComfortDelGro’s US$100 million VC fund. The transport company said on Wednesday (Jan 25) that it will invest in “promising startups” identified by the fund. The firm believes the investment will “accelerate the drive for sustainable mobility”, said ComfortDelGro managing director and chief executive officer Cheng Siak Kian.
The move comes after the group announced a US$4 million investment in Israeli-owned teleoperation software capabilities company Ottopia two weeks ago.
Founded by four French investors with backgrounds in venture capital and mobility, Shift4Good aims to finance and support European and South-east Asian startups that provide solutions for decarbonising the transportation industry.
The fund last closed a 100 million euros round in October last year, with participation from French carmaker Renault Group and other investors.Shift4Good has plans to invest in 30 European and South-east Asian startups over the next five years, particularly ones which provide solutions for decarbonising the transportation industry. It aims to raise up to 300 million euros in fund size at final close.
Source: Business Times, https://www.businesstimes.com.sg/startups-tech/comfortdelgro-invests-4m-euros-impact-fund-sustainable-transport-startups