Monday, February 10, 2025
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Shift4Good’s first fund closes at €220 million to drive sustainable transportation solutions

Shift4Good, a global venture capital fund focused on sustainable transportation, has successfully closed its inaugural fund at €220M, exceeding its initial target. This achievement is well above the €115M average for European cleantech VC funds from 2020–2024. It is one of only four first-time cleantech funds in Europe to raise over €170M during this period, highlighting its strong potential impact on sustainable transport.

The fund has garnered support from a diverse range of investors, including top-tier corporates, institutional investors, and family offices such as Renault Group, BNP Paribas Group, the European Investment Fund (EIF), Edenred, PSA Ventures (part of the Port of Singapore Authority), ComfortDelGro, Capricorn, and Candriam.

The fund’s diverse investor base includes Tier-1 corporates, institutional investors, and family offices in Europe and Asia. Notable LPs include Renault Group, BNP Paribas Group, Bpifrance, European Investment Fund (EIF) and Capricorn. 

“My main message is that sustainable transportation is a valid topic for a VC in 2025,” Yann Marteil, Co-founder and Managing Partner of Shift4Good, said.

The fund significantly exceeds the €115 million average for first-time cleantech European VC funds (2020-2024). It is one of just four first-time, clean-tech-focused funds in Europe to surpass €170 million during this period. 

“We are the largest fund dedicated to that cause but probably one of the only ones specializing in impact and sustainable transportation,” said Yann. 

Further, he commented, “This is quite a surprise for us because we have a tremendous quantity and quality of deal flow in all Europe, but also the rest of the world, and the requests that we’re getting from the large corporations to adopt this solution and to get insight about what we see, well the demand is enormous. So I think there is a strong, strong, strong current pushing us, and this is why we’ve been able to raise €220 million when no one is raising so far.”

Shift4Good launched the fund in 2022 and has already invested in 13 companies. These include London-based Laka, an insurance provider for micro-mobility; Helsinki-based Vapaus, a leader in corporate mobility solutions; and Paris-based Shippeo, which provides real-time supply chain visibility to optimize logistics and reduce emissions.

With the fund’s growth, Shift4Good seeks to invest in 10-15 additional startups across Europe, the UK, and Southeast Asia. The company focuses on Series A and Series B investments, with funding amounts ranging from €4 million to €20 million.

Shift4Good’s successful closure of its €220M fund underscores the growing investor confidence in sustainable transportation innovation. With a diverse group of backers and a strategic focus on high-impact startups, the fund is well-positioned to accelerate the development of sustainable mobility solutions across Europe, the UK, and Southeast Asia. As Shift4Good continues to seek promising companies for investment, its commitment to advancing cleantech and reducing emissions will play a key role in shaping the future of sustainable transportation.

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