BUILD Capital Partners has launched Lane VC, an autonomously managed venture capital firm focused on the electric vehicle (EV) market and adjacent businesses linked with the mobility industry.
Lane VC succeeds BUILD Mobility and will manage the existing portfolio of BUILD Mobility, which was established in 2019 with an initial investment into XOS Trucks. Since then, the firm has seen XOS go public and continued to invest in mobility startups in Europe and the Americas.
“At BUILD, we are serious about finding and funding companies that are making a positive impact in the world, driving positive financial results, and leading innovation in their industry,” says Brent Jacobsen, founding partner at BUILD Capital Partners. “With funding to electric vehicle tech companies hitting an all-time high in 2020, the overall EV market maturing, and our success with XOS Trucks, the decision to spin out our mobility arm is another milestone in BUILD’s growth. We are absolutely thrilled for Lane VC to become an independent firm.”
Lane VC aims to bring its mobility expertise and strong track-record in successful investments to early and growth stage EV startups globally. The firm will continue to deploy capital across Europe and the Americas, primarily leading direct investment rounds with initial investments of up to $25 million. Kasey Evans, who has led BUILD Mobility since joining BUILD in early 2019, will lead Lane VC as managing director.
“Our move to independence represents the natural evolution of our business, which has built a track record for robust value creation in the mobility space,” states Evans. “We are eager to keep on delivering strategic value to our limited partners, enhancing our specialized area of expertise, and working with our portfolio companies in shaping transportation innovation. Becoming an independent firm allows us to be even more agile and further accelerate the electric transformation of the mobility space.”