Autotech Ventures, a Menlo Park, CA-based early-stage venture capital firm with a mission to solve the world’s ground transportation challenges with technology, closed its third fund, at $230m.
The fund will be used to invest in Seed through Series C mobility-related startups.
Autotech has over $500M under management and has invested in more than 40 companies. Of its portfolio companies, five have gone public (including indie Semiconductor, Volta Charging, LYFT), four have reached $1B valuations (Outdoorsy, Volta Charging, indie Semiconductor, SWVL) and five have been acquired (DeepScale, XNOR.AI, Digital Motors, Drover, Frontier Car Group).
Led by managing directors Dan Hoffer, Quin Garcia, and Alexei Andreev, Autotech Ventures is also expanding its leadership team with Tony Rimas who has joined the firm as a venture partner. Rimas, who is the CEO of Repair OnDemand, brings a wide range of experience from the automotive industry, including retail, financial services, aftermarket, and fleet services.
FinSMEs
20/04/2023