Friday, June 4, 2010

GM Gets Into Venture Capital

General Motors said Friday morning that it has entered into the venture capital industry, and created its own $100M transportation venture capital arm called General Motors Ventures, LLC. GM said the new unit will help it to "pursue innovative technology" and would also be a path to establish partnership with other venture capital companies. General Motors Ventures will be focused on identifying and developing innovative technologies in the automotive/transportation sector, GM said. The firm's venture efforts will be overseen by Jon J. Lauckner.