inDrive Launches $100mn Venture Arm for Injustice-Challenging Startups
inDrive, a global mobility and urban services platform, has launched a venture and M&A arm, New Ventures, to invest up to $100 million in promising startups challenging injustice. Andries Smit, a seasoned entrepreneur and investment professional, will lead the unit.
New Ventures will focus on companies with a mission to improve lives, local startups with global potential, and post-seed/pre-Series A firms with proven product-market fit, rapid organic growth, and healthy economics. Smit, the Vice President of New Ventures, aims to help the company transform the lives of innovative founders contributing to a better world.
Andries Smit says: “Once an underdog and now a global company, inDrive is certainly an investor to watch – the team has achieved rapid global growth while remaining committed to its mission of challenging injustice.
“By investing in emerging companies innovating to improve people’s lives, inDrive further strengthens its commitment to challenging injustice by helping successful, but overlooked startups..”
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