Autotech Ventures, a mobility-focused venture capital firm, has just closed a third fund of $230 million, expanding beyond its traditional early-stage ground transportation startups. The new fund will be used to invest in fintech, logistics, supply chain and the circular economy – areas the firm believes present the greatest opportunities in automotive and mobility.
The fund was backed by a range of financials as well as American corporations like Allison Transmission, American Axle, Iochpe-Maxion, and Shell. According to Managing Director Alexei Andreev, the fund’s strategy is largely similar to their earlier funds, though there’s now a focus on “SaaS-enabled fintech” and the “inefficiencies” of auto commerce. As part of this, they recently invested in Yendo, a Dallas-based start-up offering competitive credit card-like interest rates against vehicles.
In addition, Autotech Ventures is looking into generative AI investments and the emerging circular economy, whose importance has only grown with the increasing move towards electric vehicles. In the past, the firm has held investments in computer vision start-up DeepScale (now acquired by Tesla), Lyft, used vehicle market operator Frontier Car Group, among others. Five of the firms investments have gone public.
Autotech Ventures is also known for its commitment to sustainability, having developed what is known as the Autotech Ventures carbon calculator, an online tool designed to measure the carbon output from projects, allowing investors to make more informed decisions when it comes to their contributions to the green economy.
Alexei Andreev is the Managing Director of Autotech Ventures. He has an extensive background in venture capital and experience in driving growth and developing successful strategies in the mobility sector. Alexei holds a Bachelor’s Degree in Economics and International Relations from UC Berkeley. Before Autotech Ventures, he has held senior roles in Zirx, Getaround, and Vast as well as having co-founded his own investment company, Pursuit Capital Management.
