The Shift4Good fund will invest in approximately thirty startups over the next five years.
The European Investment Fund (EIF)with his support InvestEU, invests in Shift4Good, an independent venture capital fund with a positive environmental impact, which focuses on sustainable mobility and the circular economy, aiming to raise €300 million. Yesterday the first closing of the fund, amounting to more than 100 million euros, was announced. The Shift4Good fund will invest in approximately thirty startups over the next five years. These investments aim to accelerate the development of these companies, enable them to become pioneers internationally and thus contribute, through their innovations, to reducing the carbon footprint of the mobility sector. The first two investments will be announced within October.
Economy Commissioner Paolo Gentiloni said: “InvestEU makes a significant contribution to innovation in the field of sustainable mobility, highlighting new carbon-neutral modes of transport. I am delighted that with this investment InvestEU is supporting the decarbonisation of a sector of key importance for the green transition.”
InvestEU provides the European Union with vital long-term financing by leveraging significant public and private resources for a sustainable recovery. It generates additional investment by contributing to key European priorities such as the European Green Deal and the digital transition. The InvestEU fund is implemented through financing partners who will invest in projects using the EU budget guarantee of €26.2 billion. The full budget guarantee will support implementing partners’ investment projects and increase their risk-taking capacity, mobilizing at least €372 billion in additional investment.
Nikos Andritsos
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I am currently a news writer for News Bulletin247 where I mostly cover sports news. I have always been interested in writing and it is something I am very passionate about. In my spare time, I enjoy reading and spending time with my family and friends.
