UP.Partners Launches $ 230 Million Venture Capital Fund to Turn the World on the Move

Backed by investors such as Alaska Air Group, ARK Invest Founder and CEO, Cathie Wood, and Toyota Woven Capital Affiliate, UP.Partners aims to enable cleaner, faster, safer and lower cost transportation for people and goods.

Posted: October 18, 2021 at 3:30 p.m. CDT|Update: 39 minutes ago

SANTA MONICA, California, October 18, 2021 / PRNewswire / – UP.Partners today announced the final closing of its first $ 230 million Start-up venture capital fund dedicated to supporting businesses that are transforming the world on the move.

From left to right: Adam Grosser, Cyrus Sigari and Ben Marcus, general managers of UP.Partners

UP.Partners announces $ 230 million Venture capital funds to turn the world on the move

The movement of people and goods is the underlying fabric of society. Transport and logistics represent 10% of world GDP, which represents about 10 T $ per year. With responsible transport of 29% of global CO2 emissions, emerging technologies create opportunities for fundamental reinvention of cleaner, faster, safer and less expensive mobility solutions. Examples include parcel delivery drones, electric vertical planes for urban air mobility, precise positioning software, hydrogen-powered airliners, sustainable aviation fuel, ultra-low cost LIDAR sensors, scooters and micro-mobility electric bikes, advanced manufacturing techniques, improved electricity grid for recharging, and more.

Building a virtuous ecosystem focused on the future of mobility
UP.Partners has assembled a world-class consortium of leaders in aerospace, automotive, marine, hardware, software, telecommunications, finance and media to harness the movement of electrons, atoms and capital to help humanity rise. Investors include Alaska Air Group (NYSE: ALK); Founder and CEO of ARK Invest Cathie Bois, Woven Capital, the investment arm of Woven Planet Group, a subsidiary of Toyota Motor Corporation; the private industrial company Standard Industries; global real estate developer Hillwood, a Perot company; leading OSM Maritime ship management company, and more.

“Our investment in UP.Partners demonstrates Alaska Air Group’s continued commitment to supporting a cleaner, more accessible world of transportation,” said the CEO of Alaska Air Group. Ben minicuccui. “UP.Partners’ team, portfolio and ecosystem of partner companies and investors are truly world class, and we are proud to partner with UP.Partners in this journey of supporting technology companies in startups that turn the world on the move. “

“Transforming mobility through technology is at the heart of Woven Planet’s mission, and UP.Partners’ investment strategy is perfectly synchronized,” said Betty bryant, Director, Woven Capital. “Woven Capital is excited to partner with UP.Partners as they nurture entrepreneurs who focus on large-scale solutions that allow people, property and information to move more seamlessly, profitably and sustainably than ever before. before, for the benefit of humanity and the health of the planet for all. “

The Davos mobility
A key part of UP.Partners’ strategy is the annual UP.summit which brings together entrepreneurs, executives and investors with the common goal of improving mobility. The UP.Summit is organized alternately in Bentonville, Arkansas and Dallas, Texas, co-hosted by Steuart and Tom Walton, and Ross Perot Jr, respectively.

Since its inception in 2017, UP.Summit has grown into the most important annual gathering for the most daring innovators, investors and companies in mobility.

The impact of UP.Summit has been significant, resulting in direct investments exceeding $ 450 million in companies that have participated so far. Chairman of the Perot Group, Ross Perot Jr. said: “UP.Partners created the Davos mobility with the UP.Summit, bringing together the best ideas and the best minds to help humanity ascend. We are proud to join forces to advance this transportation revolution. “

UP.Partners has already made 10 investments in companies, including Skydio, a leader in flight autonomy, UnitX, a leader in manufacturing quality assurance, and the developer of electric vertical aircraft Beta Technologies, to never name a few. Kyle clark, CEO of Beta Technologies, which recently closed a $ 400 million The investment cycle led by Amazon Climate Pledge Fund and Fidelity said: “UP.Partners uniquely understands the potential and scale of new air mobility and brings together visionaries to realize this potential unmatched by other investors in venture capital – the industry is fortunate to have this team leading the way. “

Managing Partners put Booster rockets on mission to help more founders ramp up
UP.Partners was co-founded by entrepreneurs in serial aviation and technology Ben marcus and Cyrus Sigari. Marcus and Sigari co-founded jetAVIVA in 2006, which is today the number one seller of business jets in the world, and AirMap in 2014, which is the leading digital and automated air traffic management platform for drones. and flying cars.

Joining Marcus and Sigari as co-managing partner and chairman of the company is a four-time investor on the Forbes Midas list, Adam grosser. Prior to joining UP.Partners, Grosser enjoyed a diverse career as an engineer, successful founder and longtime investor. Most recently, he led Silver Lake Kraftwerk, Silver Lake Partners’ impact strategy for a decade. He has invested in many of the top performing climate-focused companies including Tesla, Solar City, EnerNoc, Control4, and Silver Spring Networks.

Ally Warson, formerly of ACME Capital, also joins the UP team as Principal. UP.Partners’ Venture Partner ecosystem includes Google Earth co-creator Brian McClendon, former Activision CEO Eric Hirshberg, co-founder and CEO of startup Aero Uma Subramanian, and more.

About UP.Partners
Transportation is the underlying fabric of society. UP.Partners invests in the pioneering entrepreneurs who create the key enabling technologies that help move people and goods cleaner, faster, safer and more efficiently in a multidimensional world. UP.Partnership with some of the world’s most innovative investors and companies, including Alaska Airlines, ARK Invest and Woven Capital, the investment arm of Toyota Woven Planet Group subsidiary. UP.Summit brings together the brightest minds in the mobility community every year to help humanity soar. Together, the UP community transforms the world in motion. For more information visit UP.Partners or follow on Twitter @UpPartnersVC Where LinkedIn.

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SOURCE UP Partners Management Company, LLC

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