Shadine Taufik · · 1 min readSustainable mobility fund announces first close at $98.2m
Shift4Good, a VC fund dedicated to sustainable mobility, has announced the first close of its Fund I at 100 million euros (US$98.2 million).
The Singapore and Paris-based fund has set a target of US$295 million and is backed by institutional partners across Europe and Asia, including Groupe Renault, InvestEU, and Bpifrance.
Shift4Good co-founders and managing partners (from left): Yann Marteil, Matthieu De Chanville, Sebastien Guillaud, and Thierry De Panafieu / Photo credit: Shift4Good
In the next five years, Shift4Good will back about 30 startups in their series A and B rounds. Two-thirds of these firms will be from the European Union, while the final third will be channeled into the rest of the world, with a focus on Southeast Asia. Its first two investments will be revealed this month.
The fund was founded by Matthieu de Chanville, Sébastien Guillaud, Yann Marteil, and Thierry de Panafieu last year.
Shift4Good aims to finance companies that help reduce the carbon footprint of the mobility sector, accelerating their development and innovation to help the sector grow in a greener direction.
See also: Exclusive: Sequoia leads $1.2m raise in ex-Airbus exec’s greentech firm
Currency converted from euros to US dollars: US$1 = 1.02 euros
Editing by Samreen Ahmad
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