Netherlands-based SHIFT Invest, a venture capital fund that invests in ‘innovative’ enterprises with positive environmental impact potential, announced on Wednesday that it expanded its fund to €110M to accelerate the sustainable transition of mobility and logistics. The Fund’s previous closing was at €70M in September, 2020.
In a statement, SHIFT Invest reports that it is now the largest Dutch VC fund to back entrepreneurs who are tackling climate change, biodiversity loss and natural resource depletion.
Investors
The Fund saw participation from KLM, NS and Royal Schiphol Group. In addition, a number of existing investors, including the European Investment Fund (EIF), Invest-NL and TNO, also increased their investments with this expansion.
Mieke Struik, Head of Aviation Solutions at Royal Schiphol Group, says, “The cooperation with SHIFT Invest and other partners such as KLM and NS is in line with our ambition to become the most sustainable, high-quality airport in the world. We focus on the quality of our network, our service, and the living environment. We are innovating and working hard together with the aviation sector to create a sustainable future so that we can continue to connect future generations to the world via Schiphol in a safe and responsible manner.”
Capital utilisation
SHIFT Invest, which claims to be one of the first impact VC funds in the Netherlands, has invested in multiple startups, including Protix, Vandebron, ViriCiti, Pieter Pot, SupplyStack, and Meatless. It specialises in accelerating early-stage startups that make a climate impact in the agro-food, energy, and industrial sectors.
With the latest funds, SHIFT Invest will support impact entrepreneurs in the mobility and logistics sectors. Together with its partners, the Fund will provide entrepreneurs with an extensive network and knowledge in various sectors.
The firm says, “Activities related to mobility and logistics account for one-fifth of global greenhouse gas emissions. Besides this, the negative impact on the environment and biodiversity is enormous. Making these sectors sustainable is challenging, partly due to the complexity of the industries. An important role is reserved for innovative startups and scale-ups, which can contribute to this task with new technologies, services, and business models. SHIFT Invest will support them with funding, expertise, and network.”
About SHIFT Invest
Founded in 2009, SHIFT Invest is a Dutch impact venture capital fund that invests in innovations related to food & agriculture, green industries, energy transition and sustainable mobility & logistics. It backs startups that are achieving a positive environmental impact and financial return.
SHIFT Invest says, “As an impact investor, we take financial and impact risks that conventional investors are not able or prepared to take. In doing so, we contribute to the sustainability transition. We invest in promising environmental startups, providing them with access to growth capital, our network and 12 years of impact investing experience.”
The fund is managed by New Balance Impact Investors (NBI Investors), a team of 15 experienced investment professionals and entrepreneurs. After two successful Mainport Innovation Funds, SHIFT Invest and Mainport decided to combine forces into the largest climate impact-oriented venture capital fund in the Netherlands.
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