Agility Invests $35 Million in Queen’s Gambit
Blank-check company will acquire, invest in sustainable businesses
KUWAIT – January 31, 2021 – Agility, a leading global logistics provider, announced that it has invested $35 million in Queen’s Gambit Growth Capital, a blank-check company that will target businesses offering sustainable solutions in clean energy, healthcare, financial technology, industrials, mobility and emerging technology.
Queen’s Gambit’s all-female management team is led by CEO Victoria Grace, a New York-based venture capitalist and Founding Partner of Colle Capital. The special purpose acquisition company is supported by an all-female Board with diverse industry experience.
Queen’s Gambit’s female-led management team “has the potential to tap into a differentiated network,” Tarek Sultan, Vice-Chairman of Agility said. “This is a chance to take a more inclusive view of opportunities in the market, and drive value in the process.”
Agility has a long-standing partnership with Colle Capital, having invested in multiple companies together. “Agility brings unique capabilities to the table, including our emerging market leadership, roster of 60,000 business customers, strategic partnerships, and experience of our Ventures team,” Sultan said.
Agility’s investment in Queen’s Gambit reflects the company’s commitment to sustainability and belief that innovative technology can yield both social and economic returns. “This is not a new position for us. We’ve been practicing stakeholder capitalism for more than a decade,” Sultan said. “Sustainable technology is one of our core investment pillars.”
Agility has been intensifying its long-standing commitment to the environment, sustainability and improved governance. It was recently added to the FTSE4Good Index Series, a resource used by investors to identify companies around the world with strong environmental, social and governance (ESG) practices.
Agility is a global logistics company with $5.2 billion in annual revenue and 26,000+ employees in more than 100 countries. It is one of the world’s top freight forwarding and contract logistics providers, and a leader and investor in technology to enhance supply chain efficiency. Agility is a pioneer in emerging markets and one of the largest private owners and developers of warehousing and light industrial parks in the Middle East, Africa and Asia. Agility’s subsidiary companies offer fuel logistics, airport services, commercial real estate and facilities management, customs digitization, and remote infrastructure services.