Holman acquires a minority stake in FM Capital
FM Capital, a venture capital firm focused on early-to-mid stage automotive and transportation technology companies, announced that Holman, a global automotive services company, has acquired a minority interest in FM Capital. FM Capital claims that this is the first time an integrated automotive services organization has acquired a general partner interest in an automotive VC.
FM Capital’s investment focus is primarily on early to mid-stage companies across a range of transportation technologies, including: software supporting dealership operations, aftermarket services and remarketing; autonomy and sensors, connectivity and fleet management, and electrification and energy transition. The firm identifies trends and partners with teams who are both reinventing the movement of people and goods as well as redefining how transportation services are delivered and consumed.
Holman delivers a range of automotive services including fleet management and leasing; commercial vehicle equipment manufacturing; powertrain distribution and logistics services; commercial and personal insurance and risk management; venture capital funding; and automotive retail sales as one of the largest privately owned dealership groups in the United States.
“We’ve collaborated with Holman for nearly a decade and they share our conviction about the massive opportunity in the transformation of the automotive industry. Their unrivaled combination of dealerships, fleet leasing and management services, and corporate venture capital arm is truly unique in the automotive sector, making Holman the ideal strategic partner for FM Capital.” – Chase Fraser, Founder and Managing Partner at FM Capital.
“We saw a tremendous opportunity to not only deepen our partnership with FM Capital, but also align our automotive expertise with a renowned investment firm, ensuring our venture capital business will continue to flourish. We’ve seen first-hand the value FM Capital brings to startups as well as investors. Together, we believe we can more quickly identify, fund, and scale promising automotive technologies that solve pain points and drive innovation across the industry.” – Bill Cariss, CEO of Holman Growth Ventures.
“Holman’s investment sends a strong signal to the market that FM Capital has the vision, team, process, and now additional human and financial capital to deliver on our mission to scale transformative companies. Their team, their network and their scale will create meaningful opportunities to create value for our portfolio companies and limited partners alike.” – Mark Norman, Managing Partner, FM Capital.
