Shipmanangement giant Columbia Group has formed a new venture capital firm named Galactic Beacon Ventures to help drive innovation in maritime and other sectors.
With the backing of the Columbia Group and its network of clients, partners, and industry contacts, Galactic Beacon Ventures will have access and exposure to numerous sectors across the maritime, logistics, energy, and leisure spheres.
Furthermore, it will also serve as a hub for nurturing innovation and inventive concepts, providing support for projects to evolve into prosperous and sustainable ventures.
“We are seeing a lot of innovative and interesting ideas coming to us from new start-ups and we wanted to launch a platform where we and our partners can get involved and support from the very beginning,” said Kyriakos Vlachos, chief investment officer at Galactic Beacon Ventures.
“Galactic Beacon Ventures, powered by the Columbia Group, provides a guiding light and support for entrepreneurs worldwide,” Mark O’Neil, president and CEO at Columbia Group, added.
This is the third initiative by the Columbia Group since its rebranding in June last year. Previously, the company launched a mentoring programme aimed at female cadets and added to its global network of owned agencies by opening a new manning agency in Vietnam – both in October 2023.