Ulrich Thiem has been the managing director of Porsche Ventures, the corporate venturing (CVC) unit of German car manufacturer Porsche, since 2019. Having joined the automaker in 2011, he worked in the legal department and as director with responsibility for corporate affairs and investments prior to taking the reins at Porsche Ventures.
The unit was set up in 2016 and is headquartered in Stuttgart, with offices elsewhere in Europe as well as in Israel, China and Silicon Valley. Its focus is strategic investment in business models in the areas of customer experience, mobility and digital lifestyles. Porsche Ventures also looks to acquire stakes in companies promoting future technology such as artificial intelligence (AI), blockchain, and virtual and augmented reality.
Its recent investments include involvement in the $22m series A round for Sharpist, a German digital coaching provider, and a part in the $12m series B raise for UK-based car dealership payment platform Bumper.
In November 2021, Porsche Ventures portfolio company Greyp Bikes, an ebike manufacturer, was acquired by Porsche itself. Other exits include the sale of Israeli smart fleet mobility firm Fleetonomy to digital infrastructure business Via in 2020. Porsche Ventures currently has 30 active portfolio companies, which also include Cresta, a contact centre intelligence provider, as well as fitness app Playbook.
Before joining Porsche, Thiem worked as a corporate lawyer for the CMS legal practice in Frankfurt. He has a PhD in law from Universität Osnabrück in Lower Saxony.
