BMW announced, through its BMW i Ventures investment arm, the making of a second venture capital fund, aimed at supporting new efforts related to creating a sustainable future for all of us. The new fund will invest in early to mid-stage start-ups operating in the sustainability, transportation, manufacturing, and supply chain industries, becoming the second dedicated investment fund backed by the BMW Group.
“Over the years, BMW i Ventures has provided considerable strategic value – not only to the companies it invests in, but also to the BMW Group,” said Dr. Nicolas Peter, BMW Group member of the board of management, finance. “Further, the financial success of Fund I and the collaboration between the portfolio companies and various business units of the BMW Group impressively illustrates the success of the model.”
The new fund will operate in parallel to Fund I, furthering BMW i Ventures’ mission, and increasing the firm’s ability to make new investments. “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,” said Marcus Behrendt, managing partner, BMW i Ventures. “Even more than before, circularity and sustainability will play a key role in our investment activities.”
So far, BMW i Ventures posted good results on its investments. At the moment, the company is in the top quartile of venture capital firms regarding performance indexes worldwide. Started back in 2016, the venture capital firm invested in some 50 early to mid-stage startups, many of which are already focused on sustainability.
Seven of those companies have already gone public and are doing very well. Alongside the creation of this new fund, BMW i Ventures also announced that Marcus Behrendt and Kasper Sage were named the two new managing partners of BMW i Ventures as Dr. Ulrich Quay will move into a new role at BMW Group in Munich, Germany.