Trucks Venture Capital Launches $70 Million Fund to Support Emerging Transportation Startups

Trucks Venture Capital has launched a new $70 million fund aimed at discovering and supporting the next generation of innovative transportation startups. This marks the San Francisco-based firm’s third fund and its largest to date.

The fund will focus on early-stage investments, with Trucks planning to write checks between $500,000 and $2 million for seed and pre-seed stage companies. The VC firm typically takes a 10% ownership stake in these companies as part of their strategy.

Trucks has already made several investments from this new fund, including a charger installation-as-a-service startup called Treehouse, zero-emissions jet aircraft company JetZero, low-cost high-frequency kinetic launch firm Auriga Space, and Carvis, an AI master tech supporting mechanics.

In the past, Trucks VC has backed notable companies such as Bear Flag Robotics, which was acquired by John Deere, and Zendrive, which Intuit bought last year. The VC firm has also invested in Joby Aviation, autonomous company Gatik, and automated flight control startup Skyryse.

Trucks co-founder Reilly Brennan explained the firm’s investment strategy: “Our main strategy is be so good that the best founders have to have a conversation with you early, as opposed to looking for, hey, in this fund, I want to have four hydrogen companies and four EV charging companies; we tend not do that.”

In the past, Trucks VC has evolved its approach by shifting away from focusing on specific areas or sectors. Instead, they prioritize working with exceptional founders who are passionate about transforming transportation.

As a result of this shift in strategy, the firm has been able to explore new and emerging areas such as aviation and aerospace.

Source: techcrunch.com