Motion Ventures seeks to raise $22.7m for debut fund

VC word cloud. Credit:Barrie Entrepreneur Connect

Singapore-based investment fund Motion Ventures is looking to raise as much as S$30 million ($22.7 million) for its debut fund, according to an announcement.

The fund will provide strategic capital and support to startups facing maritime value chain hurdles.

The fund has already made its first close but the amount has not been disclosed. It has roped in anchor investors namely Wilhelmsen, a global maritime industry group, and European logistics company Hamburger Hafen und Logisitk AG (HHLA). The fund is powered by Rainmaking, a corporate innovation and venture development firm.

“Motion Ventures is an innovation opportunity that tackles maritime value chain hurdles through a fresh industry consortium,” ​said ​Shaun Hon, general partner at Motion Ventures and director at Rainmaking​.

Motion Ventures targets to support around 20 portfolio companies from its debut fund.

The investment firm will invest in startups together with SEEDS Capital, the investment arm of Enterprise Singapore. In June 2020, ​SEEDS Capital announced its S$50M commitment​ to co-invest into maritime technology startups with its newly appointed partners.

Rainmaking is one of SEEDS Capital’s partners. Meanwhile, the other partners of SEED Capitals are Innoport, KSL Maritime Ventures, PSA unboXed, ShipsFocus-Quest Ventures, and TecPier, according to a media report in June 2020.

Through this debut fund, Motion Ventures will target early-stage startups facing challenges in the maritime value chain with respect to scalable technologies such as artificial intelligence, continuous intelligence, and hyper-automation.

Currently, the board of directors of Motion Ventures include industry veterans, serial entrepreneurs, investors and Rainmaking’s partners and co-founders Michael Pomerleau and Nicklas Viby Fursund.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.