“Our investment in Immotor combines several elements we find compelling about the rapidly changing mobility industry. Taking advantage of disruptive technology and an innovative business model, Immotor presents a very exciting investment case at the heart of shared mobility and the circular economy,” said Bernard McGuire, Managing Director at 57 Stars. Amit Chandra, 57 Stars Managing Director, added: “The global revolution in mobility is the largest disruptive economic opportunity to emerge in decades, and 57 Stars is well-placed to seek attractive risk-adjusted returns by finding investment opportunities across the mobility value chain and ecosystem in areas such as electrification, data and connectivity, autonomous driving, and mobility-as-a-service.”
About Immotor Technology Co., Ltd.
Immotor is a leading venture-backed company that runs eSwap, the largest battery-as-a-service business in China serving operators of electric two-wheel scooters and mopeds. eSwap is a subscription-based service for retail customers, shared mobility users, and delivery operators, as well as rental and public transit programs. Through eSwap, subscribers obtain access to batteries, automated charging stations to recharge or swap the batteries, and cloud-based data and analytics on key metrics such as asset utilization and customer usage. As of June 2020, the company covered 54 cities with close to 7,000 battery changing stations, charging more than 400,000 batteries per day. Immotor’s investors include Samsung Ventures and Hyundai Motor Company.
One of the main sustainability benefits and value drivers of Immotor’s model is proper management of batteries’ end of life, including repurposing them for second uses such as energy storage. Immotor’s intelligent non-contact exchange model and user-friendly app ensures a convenient, reliable, and safe energy solution, removing range anxiety. These features create significant incentives for drivers to transition to electric vehicles, thereby reducing C02 emissions.
About 57 Stars Global Opportunity Fund 5
57 Stars Global Opportunity Fund 5 is the firm’s fifth generation flagship investment vehicle. It is a sector-focused, pan-emerging markets, thematic investment fund committing to partnerships, secondaries, co-investments, and structured transactions. Targeting high-growth sectors, the fund seeks opportunities to benefit from the innovation revolution in tech-enabled consumer businesses, health and care-related technologies, tech-enabled enterprises, mobility, and fintech/ financial services.
About 57 Stars NextGen Mobility Fund
57 Stars NextGen Mobility Fund is the firm’s dedicated strategy investing in next generation sustainable transport solutions. The fund seeks to capture outperformance by investing in some of the most compelling opportunities from industry disruptions across the multi-trillion-dollar global mobility value chain, accelerating transition to a low-carbon future. The fund leverages 57 Stars’ presence and relationships across the international private equity and venture capital ecosystems to invest in key global markets across four main themes in next generation mobility: mobility-as-aservice, autonomous driving, connectivity & data, and electric vehicles.
About 57 Stars LLC
57 Stars is a globally focused, independent alternative investment manager with more than USD 4 billion in commitments raised and managed, and approximately two dozen professionals in six locations across the globe. Founded in 2005, the firm seeks to generate superior risk-adjusted returns by investing in high-growth sectors of the global economy that are driven by secular tailwinds, disruptive forces, and technological innovation, adaption, and adoption. 57 Stars executes its investment strategy within a sustainable development framework.