Fraser McCombs Capital (FMC) is launching a second automotive-focused investment fund, FMC Fund II.
FMC was founded by Billy Joe “Red” McCombs and Chase Fraser in 2012. McCombs is the founder of the Red McCombs Automotive Group, a co-founder of Clear Channel Communications, a former owner of the San Antonio Spurs, Denver Nuggets, and the Minnesota Vikings, and the namesake of the McCombs School of Business at the University of Texas at Austin. He is a long-standing member of Forbes magazine’s top 400 richest Americans and has owned nearly 400 businesses during his career.
The firm’s three directors, Chase Fraser, Tony Rimas and Mark Norman, have engineered nine exits in 10 years with returns of more than 4x. Currently, FMC’s Fund I portfolio consists of investments in 17 companies.
“We’ve put together a solid team of investors who share our vision of partnering with companies that possess disruptive technologies that fundamentally change and improve the automotive business,” says co-founder and director Chase Fraser. “We have a track record of being involved with our portfolio companies, providing operational and sales expertise, helping them quickly grow from being startups to becoming firms that have real influence in the industry.”
