VC Shift4Good Closes First Fund Above Target at €220M

Global impact investment fund Shift4Good closed its maiden fund above target at €220M (~$231.1M), according to a January 24 news release.

The clean technology fund, which launched in 2022, had its first close in October 2022, raising €100M (~$105M) at that point. It secured commitments from a diverse group of investors, including tier-1 corporates, institutional investors and family offices. LPs for the fund include Renault Group, BNP Paribas Group, Bpifrance, the European Investment Fund, Edenred, the Port of Singapore Authority's PSA Ventures, ComfortDelGro, Capricorn and Candriam.

The fund targets companies that pioneer decarbonization of mobility across the rail, road, air and maritime sectors. It focuses on series A and B fundraisings, with allocations in the €4M (~$4M) to €20M (~$21M) range for each transaction.

So far, the fund is invested in 13 companies from Europe and Southeast Asia including micromobility insurance provider Laka, battery recycling and circularity company Neu Battery Materials, corporate mobility solutions provider Vapaus and multimodal transportation visibility company Shippeo.