First Business News Portal in English from Nepal
KATHMANDU: InDrive, the global mobility and urban services platform, has unveiled a new chapter in its journey with the introduction of a dedicated venture and M&A arm.
The company aims to invest up to $100 million in innovative startups, with seasoned entrepreneur and investment professional Andries Smit joining as the Vice President of New Ventures.
Andries Smit, now the Vice President of New Ventures at inDrive, expressed his excitement about the venture’s unique position as a global company with a commitment to challenging injustice. He emphasized the potential of inDrive to empower successful but overlooked startups, particularly in emerging markets with limited access to capital.
Smit, with a background in both startup and corporate environments, brings strategic expertise from roles at Morgan Stanley, Aviva, and as a partner at Stryber, a leading strategic growth partner in Europe, the Middle East, and the Asia-Pacific.
InDrive’s New Ventures unit aims to facilitate the rapid scaling of investee and acquired companies across its platform. Leveraging inDrive’s global customer base across 45+ markets, as well as access to the company’s go-to-market expertise and technology, these companies are poised to gain a competitive edge.
Mark Loughran, President of inDrive, emphasized the mission of New Ventures to discover high-growth startups operating beyond traditional innovation hubs. He expressed confidence in Andries Smit’s unique blend of corporate and venture-building experience, foreseeing success in surpassing their investment goals. The mission of New Ventures aligns with InDrive’s commitment to supporting the development of impactful startups, irrespective of their geographical location.
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