The BMW Group Launches up to €500M Venture Capital Fund
Summary
The BMW Group is creating a new venture capital fund of up to €500m over ten years.Founded in New York in 2011 with an initial venture capital of $100m, BMW i Ventures has completed more than 15 investments in various mobility-related startups including RideCell, Chargepoint, Carbon3D, etc.The unit, which is now relocating its headquarters to Silicon Valley, will operate independently and globally under the leadership of two managing partners – Ulrich Quay and Uwe Higgen – and will report on its activities to a BMW Group Steering Board, comprising three Board of Management members and the head of Corporate Planning and Product Strategy.BMW i Ventures’ previous focus on mobility services and electro-mobility will be expanded to cover: – Autonomous Driving, – Enabling Technology and Digital Vehicle Technology – Mobility and Digital Services, – Customer Experience, and – Advanced Production Technology.FinSMEs 29/11/2016