Driving innovation for low-carbon transport

Shift4Good is a EUR 220 million Article 9 venture capital fund dedicated to accelerating the decarbonisation of transport – a sector that accounts for nearly a quarter of global CO₂ emissions.

From its inception, the fund has operated with a global footprint, with headquarters in Paris and Singapore and a growing presence in Luxembourg and Sweden. Built by a team with decades of experience in mobility, transportation, and industrial scaling, Shift4Good combines capital with deep sector expertise and access to a worldwide network of industry leaders, corporate partners, and technical specialists. This enables the firm to support category-defining startups beyond financing – helping them navigate international markets, secure strategic partnerships, and scale globally. 

Sweden’s ambitious climate agenda, strong industrial base and innovation capacity made the country an obvious choice for expansion.  

A partner for global scale

“Sweden combines innovation, policy ambition and a robust industrial ecosystem, making it a prime location for scaling sustainable mobility solutions,” says Matthieu de Chanville, Co-Founder & Managing Partner, Shift4Good.

Through this strong foundation, the partnership with Business Sweden has helped Shift4Good turn strategy into action – connecting with the right stakeholders and accelerating its expansion across key markets.

“Business Sweden has been an invaluable partner, actively promoting us and opening doors within the ecosystem. It’s clear that they genuinely want international investors to succeed,” says Yann Marteil, Co-Founder & Managing Partner, Shift4Good.

That collaboration proved pivotal when Business Sweden connected Shift4Good with Swedish maritime tech company Cetasol, which develops an AI-driven platform that helps reduce fuel consumption and emissions in maritime transport. For Cetasol, the collaboration marked a major step in connecting with international investors and strengthening its global reach.

“
Business Sweden’s support was instrumental – not only through Martin Jönsson’s introduction that led to Shift4Good’s investment in Cetasol, but also through their teams in Norway, Singapore, the US and China, whose efforts helped our international growth and strengthened our visibility, particularly in Singapore. Ethan Faghani, Founder & CEO, Cetasol
”
Why Sweden – a strategic presence in the Nordic innovation engine

The decision to establish a presence in Sweden, through a Venture Partner based in Stockholm, is both deliberate and strategic.

  • A leading innovation hub: Sweden stands as one of Europe’s most dynamic innovation ecosystems, particularly in climate technology, electrification, and digital mobility solutions.
  • Strong climate agenda: Few countries have demonstrated such clear ambition in the decarbonisation of transportation – across road, maritime and energy systems – making Sweden fertile ground for the technologies Shift4Good supports.
  • Industrial powerhouse: Sweden is home to major mobility and industrial players – natural partners and future clients for startups in Shift4Good’s portfolio.

 

Challenge

Finding local talent was easy, but securing Swedish investors proved harder as many prioritise domestic funds. Shift4Good also needed guidance on company setup, ecosystem integration, and political backing to ensure support from key stakeholders such as Saminvest, AP Fonden and major corporates.

Solution

Business Sweden, led by Martin Jönsson in Stockholm, helped Shift4Good navigate Sweden’s innovation landscape, promoting the fund, and facilitating key introductions. Support from Business Sweden offices in Norway, Singapore, the US and China – plus Business Region Göteborg – strengthened Shift4Good’s visibility and ecosystem connections.

Result

At GoWest 2024, Business Sweden introduced Shift4Good to Swedish maritime tech company Cetasol, leading to the fund’s first investment in Sweden. With the recent appointment of Magnus Lundin as Stockholm-based Venture Partner, Shift4Good is further expanding its Nordic pipeline and supporting Swedish climate-tech companies in scaling internationally through its European and Asian networks.

Value impact

Though still early to measure outcomes, the Cetasol investment strengthens Shift4Good’s focus on maritime decarbonisation – key pillars of its climate strategy. Its Swedish presence opens access to leading Nordic innovators, supported by Business Sweden’s global network and strong local partnerships.

 

About Shift4Good

Shift4Good is an impact venture capital fund with EUR 220 million in assets under management, focused on the decarbonisation of the transportation sector. It invests in the transport for goods and people, which alone accounts for around 25% of global CO2 emissions. Backed by leading institutional investors and major mobility players, Shift4Good identifies and supports entrepreneurs capable of deploying transformative climate technologies at scale. Shift4Good is based in Paris and Singapore, with an active presence in the Nordics.