FM Capital, a Detroit, MI-based venture capital firm focused on early-to-mid stage companies in automotive and transportation technology, has named auto tech pioneers Jake Sigal and Massimo Baldini as Technology Operating Partners.
The pair will provide a range of advisory and due diligence services for FM Capital and its portfolio companies. They have also invested in FM Capital’s Fund IV. Sigal and Baldini’s core areas of focus include: assisting with strategy, identifying technology trends and investment targets, and engaging with portfolio and target companies for technical readiness and due diligence.
Sigal is a Detroit-based serial tech entrepreneur working at the intersection of the consumer experience and the automotive and mobility industries. He is an active board member of the Consumer Technology Association (CTA), which produces the annual CES show. Sigal has also been a major advocate for innovation in the state of Michigan, working with the Michigan Economic Development Corporation, serving as an early stakeholder and advisor with Techstars Mobility Detroit, and working with universities and startup incubators.
Baldini has worked for blue chip companies, including Procter & Gamble and Whirlpool, then subsequently switched to business and operations after earning his MBA.
The pair co-founded and led two tech companies, Livio and Tome, which were acquired by Ford and Valtech, in 2013 and 2023, respectively.
Led by Managing Partners Chase Fraser and Mark Norman, FM Capital is an investment focus on early to mid-stage companies across a range of transportation technologies, including: auto commerce, autonomy and sensors, connectivity and fleet management, energy transition and smart mobility. The firm identifies trends and partners with teams who are reinventing the movement of people and goods and redefining how transportation services are delivered and consumed.
FM Capital typically invests between $5-10m in companies with transformative solutions in transportation at the series A stage or the first institutional round.