The world of transport is changing fast and more innovation is coming. For meaningful change to be made to something so ingrained in how we live it needs the big hitters to get involved. This is where Porsche Ventures and managing director Ulrich Thiem step forward.
With 13 investments in the past year, Porsche Ventures is focused on bringing innovation to the masses as quickly as possible. While many organisations have shelved their sustainability goals, Porsche is still working towards a net carbon-neutral value chain by 2030.
This is reflected in what it has been investing in, backing companies such as Chemix, which is developing breakthrough EV batteries using AI; AM Batteries, which is developing li-ion batteries using solvent-free manufacturing processes; and RidePanda, an e-ride shop that provides electric vehicles with maintenance support and theft protection.
With 13 investments in the past year, Porsche Ventures is focused on bringing innovation to the masses as quickly as possible
Porsche Ventures does not just look at transport. In the past 12 months, it has invested in areas such as cybersecurity, fintech and even AI coaching. Porsche invested in Germany-based Retorio, which raised €9m in series A funding to help grow its personalised AI coaching platform for sales and leadership teams.
It is a testament to Thiem’s confidence in operating within a variety of sectors, empowering the team of 17 to think big when it comes to how Porsche can bring value to the next generation of ideas.
Thiem joined Porsche in 2011, when he initially worked in the legal department as director with responsibility for corporate affairs and investments. He became managing director in 2019. The venture unit has 35 companies in the portfolio, and has had six exits since it was founded in 2018.
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.
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