inDrive, a global mobility and urban services platform, has unveiled the launch of a new venture and M&A arm with a commitment to invest up to $100 million in promising startups. Additionally, seasoned entrepreneur and investment professional Andries Smit has joined inDrive as the Vice President of New Ventures.
The investments made by New Ventures will prioritize rapid growth and positive community impact, guided by the following criteria:
- A mission that challenges injustice, improving the lives of individuals and communities
- Local market startups demonstrating potential for global expansion
- Post-seed/pre-Series A companies with proven product-market fit
- Rapid organic growth
- Healthy economics and cash flow
Andries Smit, Vice President of New Ventures at inDrive, expressed enthusiasm about the company’s trajectory, emphasizing its evolution from an underdog to a global player committed to challenging injustice. He highlighted inDrive’s unique position to support successful yet overlooked startups, leveraging its presence and fast growth in emerging markets with weaker access to capital markets.
Smit stated, “I’m thrilled to apply my own venture building and investing experience to help inDrive transform the lives of innovative founders hungry to scale up their successful businesses that contribute to a better world.”
InDrive’s New Ventures unit is dedicated to assisting investee and acquired companies in scaling quickly across inDrive’s platform. These companies stand to benefit from a competitive edge by tapping into inDrive’s global customer base spanning 45+ markets, along with access to the company’s go-to-market expertise and technology.
Andries Smit brings a wealth of experience from key strategic roles in both startup and corporate organizations, having led business transformations, acquisitions, and integrations at major corporations such as Morgan Stanley and Aviva. His venture-building experience includes a role as a partner at Stryber, a leading strategic growth partner and independent corporate venture builder in Europe, the Middle East, and the Asia-Pacific.
Mark Loughran, President of inDrive, emphasized the mission at the heart of New Ventures—to discover overlooked, high-growth startups operating beyond traditional innovation hub regions and support their development to increase their positive impact. Loughran expressed confidence in Andries Smit’s unique blend of corporate and venture-building experience, expecting it to propel inDrive beyond its investment goals.