Steve McGrath, a former executive at oil producer Shell’s corporate venturing unit, Shell Ventures, has joined Mach49, a US-based startup incubator that devises internal innovation mechanisms for corporate clients.
McGrath helped establish Shell Ventures in 2017 and headed its North America branch for two years while also launching and leading its Asia Pacific (APAC) activities.
His role involved McGrath overseeing Shell Ventures’ activities in the mobility sector worldwide, and he took part in series A rounds for electric vehicle charging technology developer Ample, heater technology provider Salamander Solutions and online automotive services marketplace Openbay.
Prior to Shell Ventures, McGrath served as a board director for DFMSim, a US-based semiconductor simulation technology developer he also co-founded, from 2005 until it was acquired by semiconductor technology producer Applied Materials in 2016.
Mach49 hired McGrath as senior vice-president and managing director of APAC. He will apply his experience in corporate venture capital, entrepreneurship and intrapreneurship to help APAC-based corporations to form venture capital funds.
Photo of Steve McGrath courtesy of Mach49.
