UP.Partners said on Monday Tesla Inc TSLA bull Cathie Wood is among a group of investors that have contributed to its $230 million early-stage fund that would focus on mobility startups.
What Happened: The Santa Monica, California-based venture capital fund also named Alaska Air Group Inc ALK, Woven Capital, a venture capital arm of Toyota Motor Corp TKM subsidiary Woven Planet as investors.
Wood, who leads the popular money managing firm Ark Investment Management, has put in money on the venture capital fund in a personal capacity. UP.Partners did not disclose the amount of Wood's investment.
See Also: Cathie Wood Piled Up Another $994K In This Company Linked With Elon Musk's SpaceX On Friday
The fund would focus on emerging technologies and mobility solutions that are cleaner, faster, safer and come at a lower cost. These could include package delivery drones, electric vertical aircraft for urban air mobility, software for precise positioning, hydrogen-powered airliners, sustainable aviation fuel, ultra-low-cost Lidar sensors, micro-mobility scooters and e-bikes, and more, UP.Partners said in a statement.
Why It Matters: The Ark Invest CEO has been focused on emerging and disruptive technologies and some of her company’s exchange-traded funds go after newly listed companies with growth potential. These companies are spread across sectors from transportation, pharma, digital payments, social media, cryptocurrency to blockchain technology.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
