BMW i Ventures, a $100m corporate venturing fund started by the Germany-based car maker this year, has named Edward Robinson as its New York City-based president.
Robinson remains executive president of BMW Financial Services, Americas Region.
Joerg Reimann, managing director of BMW i Ventures, said: "We had the potential to establish BMW i Ventures headquarters in a number of the world’s mega cities but we chose New York City because it is one of the world’s most complex and vibrant cities as well as for its sheer level of talent and creativity. We also credit Mayor Michael R. Bloomberg and the Economic Development Corporation (EDC) for creating a welcoming environment and nurturing the City’s tech scene."
The fund’s first investment was MyCityWay, a set of location-aware apps for urban navigation.