Brad McManus leads Motorola Solutions Venture Capital (MSVC), the corporate venture capital (CVC) division of US-based communications equipment producer Motorola Solutions, as managing director.
Rajan Naik, senior vice-president of strategy and innovation at Motorola Solutions, said last year: “MSVC has been investing in and partnering with startups for [more than] 20 years, helping drive technology leadership, innovation and business growth for Motorola Solutions. Brad joined our venture organisation [five] years ago as the company was beginning to expand its offerings in services, software and video.
“Leveraging his extensive venture capital experience and network in the VC industry both in the US and Israel, Brad has reshaped MSVC’s portfolio to align with Motorola Solutions’ growth platforms and has created unique business models for go-to-market and technology licensing that enable venture stage companies to be successful with enterprises.”
McManus said MSVC’s focus in 2020 would be to accelerate the commercialisation of automated processes in all industries from healthcare to industry to consumer, replace China as the go-to source of low-cost manufacturing, mass-market adoption of digital currencies and cybersecurity.
McManus was an investment director at MSVC for two years from mid-2015 and was named a Global Corporate Venturing Rising Star 2017, shortly after which he ascended to managing director to oversee the unit.
McManus said: “MSVC is responsible for accelerating sustainable bottom-line growth for Motorola Solutions through investments in new technologies, new businesses and new talent.
“MSVC is a small, high-impact team with offices located in Chicago, Illinois; Silicon Valley, California and Tel Aviv, Israel. The team is responsible for making investments in high-tech startups that are relevant to our businesses.
“The unit currently manages a portfolio of about 20 companies with new companies added to the portfolio periodically. The department is also responsible for monetising these investments and meeting annual strategic and financial goals set by the corporation.
“MSVC also manages Motorola Solutions’ partnership in the Labs/02 incubator based in Jerusalem, which sources and incubates seed-stage startups based in Israel.”
In 2018, McManus helped redefine the unit’s strategic rationale for investments, which now includes six categories for both business and visionary and technology-based objectives.
In addition, he enhanced MSVC’s investment proposal and review process which now focuses on “strategic thesis analysis and pitch-based on six objectives”. He was also involved in streamlining the investment committee, from six members down to three – chief strategy officer (CSO), chief technology officer (CTO) and chief financial officer’s delegate.
Under his leadership, the unit’s executive sponsor and business unit champion framework was also refined to align with key business units and CTO sponsors. The organisation moved under CSO from CTO to align resources and value of ventures more closely to strategic imperatives, he added.
MSVC most recently reinvested in augmented reality technology developer Mojo Vision in a $51m series B-1 round in April 2020, having first taken part in the company’s March 2019 $58m series B funding.
Last year, MSVC exited business intelligence software developer Profitect in an M&A transaction involving marking, tracking and computer printing technologies producer Zebra Technologies in May, as well as Sonim Technologies, an ultra-rugged accessory provider, in an initial public offering the month before.
Prior to joining MSVC, McManus co-founded VC firm Capbridge Ventures in 2013 and had been a managing partner for two years. During that time, he managed strategic venture funds for corporations in targeted adjacent verticals.
Before that, McManus was a managing director at Panasonic Venture Group, the CVC unit of the eponymous Japan-based consumer electronics company, for 11 years from 2002.
