Automotive component manufacturer Lear Corporation has provided an undisclosed amount of capital for a fund managed by Israel-based venture capital firm Maniv Mobility through corporate venturing unit Lear Innovation Ventures.
Maniv Mobility makes seed and series A-stage investments in startups developing mobility technologies such as autonomous driving software or ride hailing technology.
Alliance Ventures, the venture capital fund formed by carmakers Renault, Nissan and Mitsubishi, is also a limited partner in the fund, having committed capital in May 2018 according to Calcalist.
Maniv Mobility raised $40m for a fund in May 2017 that included commitments from InMotion Ventures, the strategic investment arm of car manufacturer Jaguar Land Rover, as well as automotive parts supplier Valeo and equity crowdfunding platform OurCrowd.
Undisclosed hedge funds and family offices also provided contributions to the fund in 2017, as did three founders and chief executives of Maniv Mobility’s portfolio companies.