By Adedapo Adesanya

Motion Ventures has unveiled its $100 million second fund named Motion Ventures Fund II or Fund II, which is now the largest maritime-focused tech fund to boost the sector’s value chain.

According to a statement, the new fund will help back startups developing more asset-intensive hardware solutions in the maritime sector which has seen growing corporate demand for deeper, faster progress in sustainability, vessel operations, and port modernisation.

Over the next 18–24 months, Fund II aims to deploy cheques of $250,000 to $10,000,000 into at least 25 companies, targeting solutions that digitise and decarbonise the global maritime supply chain.

To date, Motion Ventures has raised more than half of Fund II’s target with investments already deployed in OceanScore and Fernride which builds on the proven track record of Motion Ventures’ inaugural fund.

Motion Ventures Fund I has already generated two profitable exits, placing the firm in the top 10% of 2021 vintage VC funds globally. The firm’s broader deal pipeline is underscored by a rigorous investment process, which has seen them evaluate more than 8,000 startups since its inception in 2021.

These developments cement Motion Ventures position as maritime’s most active investor, having done more than 30 investments across Fund I and Fund II, while expanding its industry consortium to 17 major maritime and supply chain stakeholders across both funds—the broadest partnership of its kind.

Motion Ventures aims to be the catalyst that transforms global maritime supply chains, now backed by the largest dedicated fund in the sector’s history. The maritime digitisation market alone is projected to reach $423.4 billion by 2031, and mounting pressure from regulators and customers alike demands faster progress.

Based on this, Fund II will harness that momentum, uniting startups and industry leaders to deliver cleaner, more efficient operations and, ultimately, shape the future of maritime commerce.

Speaking on the development, Mr Shaun Hon, Founder and General Partner of Motion Ventures said, “We launched Motion Ventures with the belief that maritime is entering a new era—one where technology, capital, and industry collaboration converge to redefine the sector’s trajectory. In recent years, we’ve seen digitalisation and decarbonisation shift from ideas to industry imperatives.

“Fund II goes beyond writing bigger checks; it’s about uniting the right founders, corporate leaders, and strategic allies to accelerate an industry-wide shift, ensuring that solutions can be tested, adopted, and scaled faster than ever before.”

On his part, Mr Nakul Malhotra, Vice President – Emerging Opportunities Portfolio at Wilhelmsen Group said being part of Motion Ventures’ journey from a concept into one of the most active maritime investors has been remarkable.

“We value industry collaboration and are impressed to see the dedication and focus they bring to the early-stage venture capital space for an industry that is hungry for innovative solutions with robust value propositions. With Fund II, they’re scaling that impact even further, and we’re proud to remain a cornerstone partner on this journey.”

Adding his input, Mr Albrecht Grell, Managing Director of OceanScore said, “Maritime is the backbone of commerce, but it’s time to move faster and bolder, especially when building digital solutions in the compliance space.

“Shaun and the Motion Ventures team get that. Having them on our cap table has fast-tracked our expansion into new markets and helped to unlock access to a strategic network within the shipping community. With their support and deep sector expertise, we’re on track to building our global leadership in maritime compliance solutions.”

Mr ⁠Jan Holm, Advisor to Motion Ventures added that “By pairing ambitious founders with strategic backers, Fund II represents a crucial step forward: bringing together fresh solutions, both digital and hardware-based, and fast-tracking their path to scale. It’s a boost this industry has been waiting for.”

This consortium-driven approach is the cornerstone of Motion Ventures’ value creation. The Motion Ventures Alliance, a network of over 80 seasoned maritime executives, provides portfolio companies with expert mentorship, enterprise access, and swift pilot opportunities.

By Adedapo Adesanya

Nigeria is optimistic it will win its category-C election bid in the forthcoming International Maritime Organization (IMO) Council election after three recent failed efforts.

The Minister of Marine and Blue Economy, Mr Adegboyega Oyetola, said on Monday that the government would bid for the Category-C at the maiden African Strategic Summit on Shipping Decarbonisation in Abuja.

The summit was hosted by the Ministry in collaboration with the Bartlett Energy Institute of University College London (UCL).

The IMO Category-C refers to 20 states not elected under categories A or B, which have interests in maritime transport or navigation.

The category-C ensures representation of all major geographic areas.

If elected, Nigeria will be returning to the IMO category-C council after 20years since its last successful membership in 2005, and after three unsuccessful bids between 2011 and 2019.

Mr Oyetola said that Nigeria, as a vibrant member state of the IMO, was shifting from being a passive recipient of global policies to being an active architect of solutions that reflect unique circumstances and aspirations.

“The global shipping industry is at a pivotal juncture as IMO is set to finalise and adopt the policy framework on the Revised Greenhouse Gas (GHG) Emissions Reduction Strategy and the Basket of Midterm Measures.

“The progression of negotiations and research work done so far suggest that Africa, along with most developing countries, wil be mostly impacted.

“This is due to the transport cost increase as a result of the energy transition to near-zero and zero-emissions for shipping sector,” he said.

Mr Oyetola solicited support for Nigeria’s candidacy and pledged the country’s commitment to deliver on its mandate to the benefit of Africa if elected.

He said that as IMO was advancing its regulatory framework on decarbonisation, Africa must ensure that its voice is heard and its interests safeguarded in shaping policies that impact the economies and livelihoods.

He urged stakeholders at the summit to solidify Africa’s position and advocate for policy mechanism that ensure fair revenue distribution from global decarbonisation measures.

According to the minister, the summit is a catalyst for Africa to forge stronger collaborations amongst African states, as well as global partners, and to build stronger alliances with regions of similar maritime and economic profiles.

This, he said, was the only way to collectively advocate for a just and equitable implementation of IMO policies that support developing economies.

In his remarks, Mr Harry Conway, Chairperson of the Marine Environment Protection Committee (MEPC) of the IMO, said that Africa’s contribution to the organisation was critical in shaping shipping policies.

Mr Conway said that it was crucial for Africa to make contributions to the IMO policies because 90 per cent of trades in the region were seaborne.

“The IMO has 176 member states, 89 Non-Governmental Organisation, six Inter-Governmental Organisation and only 44 African countries.

“This is only about 25 per cent representation of 176 member states and Africa has to be involved in the policy making that shapes its shipping industry,” he said.

On his part, Mr Dayo Mobereola, Director-General of Nigerian Maritime Administration and Safety Agency (NIMASA), said that it was pertinent to prioritise sustainable and responsible maritime practices as Africa grew and developed.

“The decisions we make today will shape the future of our maritime industry and our contribution to global climate goals.

“This summit provides a unique opportunity to align our regional strategies with international frameworks, while addressing Africa’s challenges and opportunities,” he said.

By Adedapo Adesanya

An explosion has rocked the Trans-Niger Pipeline at Bodo, Gokana Local Government Area of Rivers State.

According to reports, the affected section of the major pipeline occurred on Monday night, though the exact cause of the explosion remains unknown as of press time.

Authorities have yet to determine whether the incident resulted from human interference, especially amid recent threats by militant groups to attack oil installations in response to the federal government’s withholding of Rivers State’s allocation due to the ongoing political crisis.

A Federal High Court in Abuja in October 2024 ordered the stoppage of the release of federal monthly allocations from the consolidated funds to the Rivers State government

The infrastructure is a critical export pipeline that transports crude to the Bonny Terminal and could affect Nigeria’s oil production which has continued to make recoveries despite security and infrastructure challenges.

This development comes as the Rivers State House of Assembly moved to impeach Governor Siminalayi Fubara and Deputy Governor Ngozi Odu.

The Martin Amaewhule-led Assembly loyal to the former governor and Minister of the Federal Capital Territory (FCT), Mr Nyesom Wike, served Mr Fubara and Prof Odu with a notice of alleged gross misconduct, signalling an imminent impeachment process.

The notice listing the alleged misconduct sent to the Speaker was a sequel to a letter dated March 14, 2025, signed by 26 members of the Assembly.