Say hey to ComfortDelGro! This global land transport company has just invested €4M ($4.3M) into Singapore and Paris-based Shift4Good.

• We hope this means more SEA investments! This makes ComfortDelGro the impact fund's first strategic investor (aka, LP) in SEA.

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🤨 ComfortDelWho?

Need a ride? Singapore-headquartered ComfortDelGro is all about land transport. They have chartered buses, taxis, car rental and leasing, light and heavy rail, non-emergency transport services, and more!

• They were born from the 2003 merger of two Singaporean land transport companies: Comfort Group and DelGro Corporation.
• One of the world's largest! They're active in seven markets across APAC and Europe and have a fleet of over 34,000 vehicles.

Not rookies. ComfortDelGro has already invested in companies like SWAT Mobility, Haulio and Ottopia.

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🚗 Beep beep, the good guys are here!

Founded in 2021, Shift4Good is an impact fund focused on reducing the environmental impact of mobility and transport. Since they're based in Paris and Singapore, they invest in Europe and SEA!

• What they're interested in? Sustainable mobility and circular economy companies that intersect with mobility and can reduce carbon footprint.

Throwback. They announced the first close of their Fund I at $98.2M in October last year.

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🤑 Onto the fun(d) stuff

For the final close of Fund I, they hope to raise up to $356M!

• Other investors in the fund include the European Investment Fund (EIF), carmaker Renault Group, French sovereign wealth fund Bpifrance and MOTUL.
• Oh, and they've invested in two companies so far: Eyelights and Compredict, both based in Europe.

The typical profile? They look to back startups at Series A and B, putting in about $530k to $21.7M per startup. Though, they're open to allocating 10% of their funds to Pre-Series A startups.

• They like to lead and co-lead rounds and leverage their base of strategic corporate LPs to help boost their portfolio companies.

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👇🏼 Back to the news

After investing in Shift4Good's fund, ComfortDelGro says they'll look at the startups Shift4Good targets and make investments of their own or through the fund!