BMW i Ventures launches new $300M fund for sustainability, transportation, manufacturing and supply chain investments
BMW i Ventures created a new $300-million venture capital fund with a strong focus on sustainability. The new fund will invest in early to mid-stage start-ups operating in the sustainability, transportation, manufacturing, and supply chain industries. This marks BMW i Ventures’ second dedicated investment fund, which is fully backed by BMW Group.
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. Even more than before, circularity and sustainability will play a key role in our investment activities.—Marcus Behrendt, managing partner, BMW i Ventures
BMW i Ventures was established as an independent venture capital firm in 2016. The company has since invested in approximately 50 early to mid-stage startups, many of which are sustainability-focused companies including Boston Metal, ChargePoint, Prometheus, Proterra, PureCycle, Solid Power, and Turntide.
Of the investments made in Fund I, BMW i Ventures has enabled seven companies to go public so far.
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. With the inception of Fund II, Baris Guzel was also promoted to partner.
Marcus Behrendt brings over 25 years of expertise in the automotive industry to this leadership position. Before joining BMW i Ventures in 2018, he worked in different management functions in research and development of the BMW Group, as a managing director for a market research company, and in various roles for another automotive OEM.
Kasper Sage has spent most of his career in Silicon Valley as a venture capital investor with previous roles in management consulting, corporate development & partnerships, as well as in working in startup operating roles.
Prior to joining BMW i Ventures in 2017, Baris Guzel worked as an investor at institutional venture capital funds and as an investment banker at top-tier investment banks.