Patrick Schmitt left his senior investment manager role at German automotive parts manufacturer Continental’s corporate venture capital arm, last week.
Schmitt joined Continental in mid-2022 and helped its $200m CVC fund invest in mobility and industrial technology developers at series A and B stages. He was also part of the firm’s startup partnership scheme called Co-Pace.
During his time at Continental’s investment arm, Schmitt sat on the boards of portfolio companies such as driver interaction platform 4.Screen and Kopernikus Automotive, which provides automated valet parking. The unit backed some 20 companies in addition to VC funds.
While Schmitt has not disclosed his next steps, he will go to a non-corporate VC job, according to a LinkedIn post.
“It has been a remarkable time, filled with opportunities, valuable connections and promising investments,” Schmitt said in the announcement. “I am grateful for the whole journey at Co-Pace with all its global experiences and the invaluable lessons learned along the way.”
