Paris-based Shift4Good, an impact investment fund focused on decarbonising the transportation sector, has closed its first fund at €220M, exceeding its fundraising target.
Launched in 2022, the fund has invested in 13 companies across Europe and Southeast Asia. After an initial close at €100M in October 2022, the fund has continued to attract market interest in sustainable transportation solutions.
The fund’s investors include corporates, institutional investors, and family offices from Europe and Asia, with participants such as Renault Group, BNP Paribas Group, Bpifrance, European Investment Fund, Edenred, PSA Ventures, ComfortDelGro, Capricorn, Candriam, and IMC Ventures.
Establishing partnerships for sustainable progress
Shift4Good states that its fundraising success, despite a global decline in venture capital activity, reflects investor support for a growth model combining financial returns with environmental impact.
Luc Julia, Chief Scientific Officer of Renault Group, says, “Renault Group is thrilled to celebrate the successful final closing of Shift4Good’s first fund. This milestone reinforces the vital role of collaboration between corporates and startups in driving sustainable innovation.”
“By connecting bold entrepreneurs with industry leaders, Shift4Good exemplifies the power of impact-driven investment to create meaningful solutions to the climate challenge, aligning perfectly with Renault Group’s commitment to decarbonisation and the advancement of clean mobility.”
Shift4Good provides an investor platform that supports collaboration and value creation for its Limited Partners (LPs).
Through business intelligence, access to deal flow, and post-investment collaboration opportunities, the fund connects startups with its network of corporate and institutional partners to enhance impact and achieve shared goals.
What to expect from the fund?
Shift4Good invests in companies that decarbonise and enhance the efficiency of global transportation with technology-driven solutions, positioning them to capitalise on regulatory changes, cost pressures, and sustainability goals.
The fund targets Series A and B investments ranging from €4M to €20M in transformative startups across rail, road, air, and maritime sectors.
Shift4Good has invested in 13 companies across sectors like fleet electrification, micromobility, battery circularity, hydrogen technologies, and AI-powered energy-saving software. Investments include Laka, Neu Battery Materials, Vapaus, and Shippeo. The fund aims to expand its portfolio to 25-30 companies.
Adeline Lemaire, Executive Director, Head of Funds Investments at BPIfrance, says, “Bpifrance chose to partner with Shift4Good in recognition of the expertise and track record of the team, as well as their differentiated investment strategy which is closely aligned with Bpifrance’s overall strategic objectives of decarbonisation and re-industrialisation.”
“By focusing on transportation, which represents approximately a quarter of global CO2 emissions, and financing sustainable and disruptive solutions, Shift4Good will participate to the transformation of the industry.”
“The scale that the fund has achieved will allow the team to deploy efficiently their strategy and have a real impact. We are delighted to have supported them from the beginning,” adds Lemaire.
Driving decarbonisation with real-world solutions
Shift4Good, an Article 9 fund under the EU’s SFDR, follows high standards of sustainable investing, focusing on intentionality, measurability, and additionality.
Each portfolio company collaborates with the fund to create an “Impact Plan” with measurable key performance indicators (KPIs), which are reviewed annually to ensure alignment with decarbonisation goals.
The fund’s portfolio includes companies like Bound4blue, which uses suction sail technology to improve maritime shipping efficiency and reduce fuel consumption, and GCK, which advances sustainable mobility through vehicle retrofitting and hydrogen-electric solutions, significantly reducing CO2 emissions.
Alvin Foo, Head of Technology and Sustainability Solutions at PSA Singapore (Port of Singapore Authority) & Head of PSA Ventures, says, “Partnering with Shift4Good aligns seamlessly with PSA’s commitment to advancing sustainable supply chains.”
“This collaboration supports our corporate goals of decarbonisation and operational excellence while driving impactful innovation in port and supply chain ecosystems. Together, we aim to accelerate the adoption of groundbreaking solutions for a cleaner, greener future.”
Brief about Shift4Good
Shift4Good is an impact venture capital fund focused on decarbonising the transportation sector, which accounts for around 20 per cent of global CO2 emissions.
With support from institutional investors and mobility players, the fund aims to back entrepreneurs developing innovative solutions to address the climate emergency. Shift4Good has offices in Paris and Singapore and invites stakeholders to join in shaping a sustainable future.
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