Autonomous Vehicle News
FM Capital has already made seven investments from the oversubscribed fund, including autonomous vehicle startup Gatik, cloud-based automotive retail platform Tekion and e-commerce startup Revolution Parts. FM Capital launched in 2012 with a $40 million fund that invested in auto commerce and dealership technologies as well as other broader retail and enterprise software startups. Its second fund, which more than doubled to $90 million, is when FM Capital became an automotive-focused VC interested in auto commerce, autonomy and sensors, connectivity, electrification and shared mobility. FM Capital typically invests between $5 million to $10 million in companies with what the partners view as “transformative solutions in transportation” typically at the Series A stage. FM Capital has backed a total of 40 companies based in North America, Europe and Tel Aviv.