Martin Witt has departed from management consulting firm Accenture’s strategic consulting arm, Accenture Strategy, to head Sweden-based commercial vehicle manufacturer Volvo’s corporate venturing unit, Volvo Group Venture Capital (VGVC).
Accenture hired Witt in 2006 as a senior manager before promoting him to director a decade later. He ascended to management director in 2018 to head Accenture Strategy, focusing on automotive strategy in the Nordics region.
Witt’s vice-president role at VGVC will entail leading investments in innovative developers of technology and services that have a strategic fit with Volvo. He will report to Anna Westerberg, senior vice-president of Volvo’s data analytics arm, Connected Solutions.
Founded in 1997 as Volvo Technology Transfer, VGVC conducts venture capital and growth equity deals concentrating on areas including autonomous vehicles, connected services and electromobility. The unit is geography-agnostic but generally invests in Europe and North America.
Witt said: “I am thrilled to announce that I am now joining the Volvo Group as the head of Volvo Group Venture Capital. I could not be more excited to join this team, with the aim to make investments in innovative companies at the very forefront of transport and infrastructure transformation, and to support collaboration between startups and the Volvo Group.”
Photo of Martin Witt courtesy of LinkedIn.
