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ComfortDelGro invests $5.7m in VC impact fund focused on sustainable mobility
The company is the fund's first strategic investor in South East Asia.
ComfortDelGro Corporation became Shift4Good's first strategic investor in South East Asia after investing $5.7m (€4m) in the global independent venture capital impact fund.
The company also joins Renault Group as amongst Shift4Good's strategic investors.
The company made the investment through its US$100m venture capital fund.
Shift4Good, which focuses on sustainable mobility, intends to play an active role in financing and supporting the most promising European and South East Asian start-ups with solutions aimed at decarbonising the transportation industry.
ComfortDelGro will look at promising start-ups identified by the fund and make investments through the fund or separately.
"We are excited to be a part of Shift4Good which, we believe, will accelerate the drive for sustainable mobility through its strong ecosystem. We look forward to gaining access to promising start-ups with ground-breaking solutions for the future of mobility through this very innovative investment fund." ComfortDelGro's Managing Director/Group CEO, Cheng Siak Kian, said.
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