Israel-based venture capital fund Maniv Mobility yesterday closed a $100m fund with a total of 12 corporate limited partners including Alliance Ventures, the venture capital fund formed by automotive group Renault-Nissan-Mitsubishi.
Auto parts manufacturers Aptiv and Valeo, carmakers Hyundai Motor and BMW, through its investment unit BMW i Ventures, oil and gas company Shell’s corporate venturing division Shell Ventures and consumer electronics producer LG Electronics have also backed the fund.
Deutsche Bahn Digital Ventures, the investment subsidiary of rail and logistics operator Deutsche Bahn, and car importer Carasso Motors are also among the limited partners.
The involvement of Lear Innovation Ventures, the corporate venture capital fund of automotive component manufacturer Lear Corporation, had already been disclosed in March 2019. The identity of the two remaining LPs could not be ascertained.
Maniv Mobility targets early-stage companies in the mobility sector, making investments in areas such as autonomous driving software and ride hailing technology. It has invested in 27 startups to date, having closed a $40m inaugural fund in 2017.
The first fund’s backers included Valeo and InMotion Ventures, the strategic investment arm of car manufacturer Jaguar Land Rover, as well as equity crowdfunding platform OurCrowd, undisclosed hedge funds and family offices, and three founders and CEOs from Maniv’s portfolio.
