Autotech Ventures, a specialist venture capital firm based in Silicon Valley, has closed its inaugural fund at USD120 million. The fund, which will invest in startups focused on ground transportation, was supported by both financial and corporate investors.
Among the fund’s corporate investors are BorgWarner and Autoliv, as well as dozens of others including vehicle manufacturers, parts suppliers, repair shop chains, leasing corporations, refuelling station networks, dealership groups, and trucking firms who together represent a global market capitalisation of over USD500 billion.
Founded by Alexei Andreev and Quin Garcia and featuring a team of seasoned transportation executives, investors, and entrepreneurs, Autotech Ventures is the world’s first venture capital firm focused solely on ground transportation.
“The ground transportation sector is experiencing a moment of unprecedented innovation, and there has never been a better time to invest in the many exciting companies leading that charge,” says Andreev, Managing Director.
”Our mission is to form bridges between our portfolio companies, our corporate partners, and our many other contacts in the transportation sector to commercialise solutions to society’s most pressing transportation challenges,” adds Garcia, the firm’s other Managing Director.
Masahiro Suzuki, Partner in charge of strategic partnerships at Autotech, says: “Startups are adept at quickly turning disruptive ideas into action, while industry incumbents are excellent at scaling and accessing a large customer base. At Autotech, we bring startups and corporations together to leverage their complementary strengths and help our portfolio startups create the future of ground transport.”
