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
Add BT as a preferred source
[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.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Paragon deal: Why investors should get ready for more Reit mergers and take-private offers
LTA apologises for e-mail gaffe in circular sent to EV charger owners
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
