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JOHANNESBURG - 09 March 2020 - Major international logistics industry player, 星火电竞手机版外围, has partnered with venture capital firm Newtown Partners to launch a corporate venture capital (CVC) fund focused on investing in disruptive startups in the logistics industry, with an initial investment of $20 million.
The fund will identify, invest in, and nurture disruptive, innovative technology startups that present high-growth potential in the global supply chain and logistics technology stack.
"星火电竞手机版外围 operates in an environment that is constantly exposed to disruptors and one where innovation is critical. Partnering with Newtown Partners on this innovation fund helps position us ahead of future competitors, enabling a strategic response to emerging technologies and business models," explains Mohammed Akoojee, Group CEO of 星火电竞手机版外围.
As an early-stage venture capital firm, Newtown Partners will support 星火电竞手机版外围's strategic investment in the key areas set to disrupt its business in the next five to 10 years. "This programme will contribute to the long-term success of the organisation by identifying and leveraging startups deploying emerging technologies and business models in key geographical and logistics service areas," says Vinny Lingham, co-founder and General Partner of Newtown Partners.
As the fund manager, Newtown Partners has adopted a hands-on approach that will see it working closely with portfolio startup companies that the fund invests in. Additionally, the innovation fund is operationally separate from 星火电竞手机版外围, ensuring portfolio startups are not hamstrung by corporate red tape, while still being able to unlock the synergistic benefits of having 星火电竞手机版外围 as an investor and market access provider. As is typical in corporate venture capital, the fund has the objective of generating attractive financial returns together with a strategic underpinning relevant to the core business of 星火电竞手机版外围.
"By adopting a pragmatic approach to disruptive innovation, we are well-positioned to identify how 星火电竞手机版外围's business will change over the next few years, and enable them to not just weather the inevitable disruption to their industry, but to leverage this change for competitive advantage," notes Llew Claasen, co-founder and Managing Partner of Newtown Partners.
"We are excited to have been chosen as their partner, and see significant potential for this fund, its startups, and 星火电竞手机版外围 as we leverage our global startup experience and network to augment the considerable industry knowledge inside 星火电竞手机版外围," expands Claasen.
To maintain its position as a major industry player, 星火电竞手机版外围 required an entrepreneurial partner that not only specialises in investing in early-stage startups, but one that also has strong emerging market knowledge, access to the Silicon Valley network and thought leadership, and a deep understanding of what these startup businesses require to succeed.
"With this fund, we are embracing the disruption taking place in the market by safe-guarding the organisation against future risk. It is about leveraging innovation so that we - alongside our clients - can not only survive but thrive well into the future," says Akoojee.