ATLANTA, April 6, 2023 /PRNewswire/ -- Automotive Ventures, a leading automotive technology and mobility Venture Capital firm, will close their new DealerFund to new investors on April 30, 2023. The DealerFund is a vertically-focused fund, with dealership owners as Limited Partners (LPs), that invests in early-stage technology companies that benefit their businesses.
"We are thrilled to welcome a group of the industry's most accomplished and successful dealership owners/operators as investors in the Automotive Ventures DealerFund," said Steve Greenfield, founder and CEO of Automotive Ventures. "This group of dealers' collective wisdom, decades of operating experience, and deep expertise across automotive strategy and digital innovation, will be invaluable as we continue to deliver differentiated outcomes for both our portfolio companies and our Limited Partner investors."
The Automotive Ventures DealerFund appeals to forward-thinking dealers who want access to the firm's strong deal flow.
"We're firm believers in the value of what Steve and his team are doing for the industry," said Jeremy Beaver, CEO of Del Grande Dealer Group. "As a result, we've backed both Automotive Ventures' first Mobility Fund, as well as this new DealerFund."
"We're excited to participate in the DealerFund, to help foster the next generation of technology solutions that will help dealerships navigate the changing dynamics in the industry," said Liza Borches, President and CEO of Carter Myers Automotive.
"Automotive Ventures' monthly Dealer Investor Council meetings allow me to provide real-time feedback on the companies they're considering for investment, and learn from the other dealers in the fund," said Andrew Walser, CEO of Walser Automotive Group.
"We appreciate the fact that investing in the DealerFund allows us visibility into Automotive Ventures' pipeline of early-stage companies, and the investment helps us diversify our business," said Adam Simms, Founder/CEO at Simms Automotive Inc.
"It's important to us to continue to have investment exposure to the venture capital asset class," said Rick Ford, CEO/President of Ford Family Investments. "We've had exposure to private equity and venture capital in the past, but Automotive Ventures allows us to be much more hands-on and participatory, and we benefit from intimately understanding the companies we're investing in."
"Steve, Justin and Andrew are always accessible and value us as a thought partner who can help influence the fund's investment thesis and involve us in due diligence of the companies in which they're considering investing," said Bill Feinstein, Dealer Principal of Planet Honda NH.
"I appreciate that I can be involved in the fund's strategy, and understand what they're investing in," said Dinos Constantine, COO of Holler-Classic Automotive Group.
"We appreciate the visibility into early-stage automotive technology companies and have the option to co-invest alongside the DealerFund," said Paul Antony, Executive Chairman of AutoCanada.
The Automotive Ventures DealerFund will close to new investors on April 30th, 2023. If you have interest in learning more, please visit www.automotiveventures.com.
About Automotive Ventures
Automotive Ventures is an early-stage automotive technology and mobility VC fund that helps entrepreneurs raise growth capital, accelerate their businesses, and deliver outsized returns to investors in the fund.
Automotive Ventures' first Mobility fund is performing strongly, making 18 investments to date and tracking at an over 30% net internal rate of return (IRR).
Automotive Ventures' second fund, the DealerFund, has made three investments, and will close to new investors at the end of April, 2023.
Automotive Ventures' General Partner, Steve Greenfield, has overseen more than $1 billion of automotive technology acquisitions, is the author of the book, "The Future of Automotive Retail," and publishes the weekly "Auto Intel Report."
SOURCE Automotive Ventures
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