In a bold move that’s set to ripple through the maritime sector, Motion Ventures has just launched its second fund, aiming to rake in a cool $100 million. This isn’t just any fund; it’s the largest tech fund the maritime industry has ever seen, and it’s poised to shake things up in a big way.
Shaun Hon, the brains behind Motion Ventures, isn’t mincing words. He’s straight up saying that the maritime industry is on the cusp of a new era, where technology, capital, and industry collaboration are going to redefine the game. And Fund II is his big bet on making that happen. “We launched Motion Ventures with the belief that maritime is entering a new era—one where technology, capital, and industry collaboration converge to redefine the sector’s trajectory,” Hon said. “Fund II goes beyond writing bigger cheques; it’s about uniting the right founders, corporate leaders, and strategic allies to accelerate an industry-wide shift.”
So, what’s the plan? Motion Ventures is eyeing at least 25 companies over the next 18 to 24 months, with investments ranging from $250,000 to a whopping $10 million. They’re not just looking at software either; they’re after asset-intensive hardware innovations too. This is about digitising and decarbonising the global maritime supply chain, and they mean business.
The maritime industry is under pressure to go green, and fast. Corporates are clamouring for rapid advances in sustainability, vessel operations, and port modernisation. Motion Ventures is stepping up to the plate, and they’re not alone. With over half of the fund already raised, they’ve already backed startups like OceanScore and FERNRIDE. And get this—they’ve built a consortium of 17 major stakeholders in the maritime and supply chain sectors. That’s some serious clout.
But here’s where it gets interesting. Motion Ventures isn’t just throwing money at problems. They’re evaluating startups, and they’ve done so for over 8,000 since they started. Their first fund, launched in 2021, has already seen profitable exits and ranks in the top 10 per cent of 2021 vintage venture capital funds globally. They know what they’re doing, and they’re doing it well.
So, what does this mean for the future of the maritime sector? It’s a wake-up call, that’s what. If you’re a startup with a game-changing idea, now’s your time to shine. If you’re an established player, it’s time to innovate or get left behind. The maritime industry is about to get a whole lot more interesting, and Motion Ventures is leading the charge. So, buckle up, because things are about to get wild.
