inDrive Launches New Ventures Arm to Invest $100 Million in Startups

inDrive, the mobility platform has launched a new venture and merger and acquisition (M&A) arm, New Ventures Investments, with a dedicated fund of up to $100 million to invest in promising startups. New Ventures will be led by investment professional, Andries Smit, who will be joining the company as the vice president. The investment criteria: inDrive’s New Ventures unit will target post-seed/pre-Series A companies with proven product-market fit, rapid organic growth, healthy economics, and cash flow. The company will focus on rapid growth and reduce positive community impact with investments spread across companies tackling injustice and improving the lives of individuals and communities.