Shinhan Venture Investment and Global Brain have invested in Japanese startup Essen while A.P. Moller Capital, a member of the A.P. Moller Group, has launched a new company that will pursue renewable projects in Southeast Asia.
Shinhan Venture, Global Brain invest in Japan’s Essen
Shinhan-GB FutureFlow Fund, a Japan-focused vehicle by South Korea-based Shinhan Venture Investment and Japanese venture capital firm Global Brain, made its first undisclosed investment in Japanese startup Essen.
Essen offers a vehicle advertising platform that uses AI and data from moving vehicles to better target its audience.
“With the funds raised in this round, Essen will hire new talent to expand the vehicle advertising business and foster partnerships with companies that have fleet drivers. The startup will also create a new business model that leverages mobility data obtained from the existing business,” the statement said.
Shinhan-GB FutureFlow Fund was launched in 2023 to focus on startups with strong growth potential in the Japanese market.
The vehicle raised $30 million from limited partners in the first close in February 2024 and plans to invest in 30 seed-stage startups in Japan and 10 in South Korea with ticket sizes around $650,000 to $1.2 million.
A.P. Moller Capital launches Verdant Energy
A.P. Moller Capital, the asset management unit of Danish transport and logistics firm A.P. Moller Group, has launched Verdant Energy, which will pursue renewable projects in Southeast Asia.
In a LinkedIn post, A.P. Moller Capital said the new company, headquartered in Singapore, will focus on development-stage projects in C&I and utility-scale solar, wind, and energy storage projects. Verdant Energy will invest in brownfield assets across the region with core markets being Vietnam, the Philippines, Thailand, Indonesia, and Malaysia.
“Over the coming years, Verdant Energy will play its part in meeting the growing demand for renewable electricity in this dynamic region,” said A.P. Moller Capital partner Dhruv Narain.
A.P. Moller Capital invests in areas addressing food poverty, supply chain disruptions, and global warming. It opened its office in Singapore in February 2023 as it ramps up investments in Asia.