PSA International rebrands, expands corporate venture capital arm to tap emerging trends
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PSA Singapore is one of the world's largest centres for container movement, handling about 40 million containers in 2024.
ST PHOTO: KUA CHEE SIONG
SINGAPORE – Port operator PSA International has revamped its corporate venture capital arm to tap emerging trends in the shipping industry.
The unit – now called PSA Ventures – will commercialise intellectual property developed with partner organisations and research institutions, while also pursuing traditional venture capital investments.
It will focus on opportunities around optimising renewable energy costs in hard-to-abate sectors – where reducing greenhouse gas emissions is difficult – within its shipping operations.
It will also seek to drive decarbonisation through equity investments in green power assets or infrastructure, supported by partnerships with low-carbon technology, engineering and supply chain experts.
A spokesman said other key priorities include automation, digitalisation and circular supply chain innovation, but he declined to reveal an initial fund size and the names of the ventures the unit plans to invest in.
PSA International group chief executive Ong Kim Pong said: “As the management of international maritime hubs, transportation infrastructure and networks grows increasingly complex, PSA Ventures will enable us to venture-build with key partners and capitalise on emerging trends.
“By collaborating with forward-thinking innovators and investing in transformative solutions, we will continue to co-create smarter, greener and more resilient ports and supply chains.”
PSA Ventures, previously known as PSA unboXed, has supported 10 initiatives with over $30 million in funding since 2016.
Notable investments include those in VFlowTech, a vanadium battery manufacturer, Shift4Good, a sustainability-focused venture capital fund, and Venti Technologies, which provides autonomous vehicle solutions for the logistics industry.
PSA Singapore is one of the world’s largest centres for container movement, handling about 40 million containers in 2024.
Its portfolio comprises over 70 deep sea, rail and inland terminals across more than 180 locations in 45 countries – including two flagship port operations in Singapore and Belgium.
Correction note: This article has been edited for clarity.
Timothy Goh is a business journalist at The Straits Times. He covers private equity, with a focus on start-ups and venture capital.
