Automotive Ventures Closes Inaugural Fund to Invest in Early-Stage Auto Tech Companies
ATLANTA, June 8, 2021 /PRNewswire/ — Automotive Ventures, the company that supports automotive technology entrepreneurs, businesses, and investors with industry-specific resources, strategic consulting, and extensive connections, has announced the final closing of its inaugural venture fund, Automotive Ventures Fund I.
Automotive Ventures announces the final closing of its inaugural venture fund, Automotive Ventures Fund I.
“Fundraising during a global pandemic had its challenges, but I’m pleased to report that the fund was oversubscribed with more than $7 million in committed capital that we’re eager to deploy into early-stage automotive tech companies,” said Automotive Ventures CEO and Founder Steve Greenfield. “Despite only kicking off the fundraise in the latter half of 2020, the motivation to launch a fund has been building for far longer. We’ve witnessed a shortage of institutional capital for early-stage auto tech companies for decades