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Prologis anchors $200M maritime innovation fund
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The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational. Prologis Ventures has committed to co-anchor the launch of TMV Logistics, a new $200 million venture fund dedicated to maritime and logistics innovation and safety. With over $235 billion in assets under management, Prologis (NYSE: PLD) holds a critical position in global trade. Anchoring the TMV Logistics fund will allow the company to address maritime-oriented supply chain needs. “With a global footprint across logistics real estate, we see firsthand how constraints at ports and along maritime corridors ripple through the entire supply chain,” said Will O’Donnell, head of global corporate development and growth at Prologis Ventures. “Investing in maritime innovation is a natural extension of our work to improve flow, visibility and efficiency from port to warehouse at global scale.” The fund will support pre-seed through Series A companies focusing on infrastructure investments in maritime, shipbuilding, ports and intermodal logistics. Startups addressing areas like autonomy, robotics, operational AI and next-generation fuels are the primary targets. Early-stage venture capital firm TMV will manage the fund. “Maritime AI is a once-in-a-generation opportunity, and the companies being built right now will set the standards for the next fifty years,” said Soraya Darabi, co-founder and a managing partner at TMV. The fund is also backed by American Bureau of Shipping (ABS), a provider of classification and certification services for marine and offshore infrastructure. Anchor partners will also support due diligence and product development, and may become customers of the portfolio companies. “By combining ABS’s technical leadership with TMV’s early-stage access and ecosystem reach, we are positioning ourselves at the source of innovation that will define safer, more resilient, and higher-performing global fleets, shipyards, and maritime infrastructure,” said John McDonald, ABS chairman and CEO. More FreightWaves articles by Todd Maiden: Broker liability ruling: Carriers, brokers, analysts weigh in RXO sees TL spot market surge further in Q2 TL linehaul rates surge in April, Cass says The post Prologis anchors $200M maritime innovation fund appeared first on FreightWaves.
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