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BMW i Ventures announce their second sustainability-focused fund for early to mid-stage startups in the industries of transportation, manufacturing, supply chain and others. Previously, investments of the VC firm’s first fund, BMW i Ventures Fund 1, had helped companies in their journey to public.
Mountain View’s venture capital firm BMW i Ventures has announced a $300 million sustainability-focused fund to invest in early to mid-stage startups operating in transportation, manufacturing, supply chain industries. This marks the VC firm’s second dedicated investment fund after BMW i Ventures Fund I.
BMW i Ventures enunciated in a statement to the press that the new fund would reiterate its commitment towards sourcing and investing in environmentally friendly and sustainable technologies. This second fund would operate parallelly to Fund 1, furthering the firm’s vision. The Fund 1 investments had enabled seven companies to go public so far, the company said.
Dr. Nicolas Peter, BMW Group member of the board of management, finance, said that BMW i Ventures provided significant strategic value to its target companies and the BMW Group. He stressed that the financial success achieved by the Fund 1 coupled with the collaboration seen between the portfolio companies and other business units of the BMW Group signifies the success of the model.
Alongside the fund launch, the VC firm also announced new leadership roles. Marcus Behrendt became a managing partner of BMW i Ventures. Commenting on the announcement, he stressed that circularity and sustainability would play a vital role in the firm’s investment activities more than before.
“With Fund II we will refocus our investment thesis to even better serve the needs of the ecosystem and the BMW Group as a whole,”Mr. Behrendt said.
Kasper Sage will accompany Me.Behrendt as a managing partner. Baris Guzel was promoted to a partner and Dr. Ulrich Quay, also a managing partner at BMW i Ventures would move into a new role at the BMW Group in Munich.
“I’m proud of what we have built with BMW i Ventures over the years. With Marcus, Kasper and Baris, I am fully confident that we have the right team in place to ensure the continued success of the firm,”Mr. Quay said.