Wade Sheffer has joined corporate venturing unit General Motors Ventures this month as managing director following the departure of Sherwin Prior to set up a venture capital firm, Blue Victor Capital.
Prior to joining GM Ventures, Sheffer was executive director of chassis purchasing at US-based car maker General Motors.
He joined GM in 1996 as a test engineer at the Milford Proving Ground. In 1999, he transitioned to the North America outbound logistics quality team and was based in Germany from 2002 to 2005.
Sheffer relocated to Shanghai, China, in 2006 as deputy executive director at Shanghai General Motors (SGM) in charge of purchasing. In 2009, he returned to the US where he held various leadership positions in global purchasing and supply chain.
Sheffer replaces Prior, who had joined GM Ventures in September 2010 before leaving this month to set up Blue Victor.
Under its president, Jon Lauckner, GM Ventures has had 12 exits (six in 2017 alone) and had close to $275m already invested at the end of 2017.