Imperial plans to invest in logistics startups
Imperial Logistics 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 USD 20 million.
“Imperial 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,” Mohammed Akoojee, CEO of Imperial, explains.
As the fund manager, Newtown Partners has adopted a hands-on approach that will see it working closely with portfolio start-up companies that the fund invests in. (mw)