Wilhelmsen and HHLA.Motion have helped maritime-focused venture firm Motion Ventures reach the first close of a fund with a S$30m ($22.8m) target.

Motion Ventures, a Singapore-based venture capital firm targeting the maritime industry, has made a first close on its debut fund, with corporate limited partners including shipping network Wilhelmsen and logistics provider HHLA. Motion is targeting S$30m ($22.8m) for the fund, which is run by Rainmaking, a venture building and investment firm that operates accelerator initiative…

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