Green shipping, digital tools are key themes for Motion Ventures’ new US$100 million fund
The four-year-old venture capital firm hopes to foster collaboration between its portfolio companies and maritime corporate investors
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[SINGAPORE] From decarbonising ships to making seafarers more efficient, Motion Ventures wants to bet on technologies that “will define the next generation” of maritime innovation, said its founder and general partner Shaun Hon.
To power its support of these technologies, the firm unveiled a fund in March that aims to raise US$100 million. It has attracted more than half that target so far. This follows the success of its inaugural S$30 million fund launched four years ago.
Hon said the maritime industry has been slow to adopt new technologies, but that innovation is gaining steam. The International Maritime Organization’s target for global shipping to hit net-zero emissions by or around 2050 has spurred investments into electric vessels, alternative fuel and digital tools that improve efficiency on board ships.
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