HomeIsraelManiv Closes Third Early-Stage Venture Fund, at $140M

Maniv Closes Third Early-Stage Venture Fund, at $140M

Maniv

Maniv, a Tel Aviv, Israel, and NYC based venture capital firm, closed its third fund, at $140m.

Maniv III is backed by institutional capital, high-net-worth individuals, and a consortium of industry leaders at the forefront of the transportation sector. LPs include investors Valeo, InMotion Ventures, the investment arm of Jaguar-Land Rover, Woven Capital of Toyota Motor Corp. global vehicle leasing and mobility solutions leader Arval, BNP Paribas Personal Finance of Europe’s bank BNP Paribas; Shell Ventures of the global energy giant Shell; global sustainable infrastructure leader Ferrovial; Enterprise Mobility Ventures, the VC arm of Enterprise Mobility; industrial manufacturing leader ITT Inc.; fleet payments leader WEX; a major European insurance company; several major automotive dealer and distributor groups; and more.

The vehicle, which brought the firm’s assets under management to nearly $320m, will invest in Seed and Series A stage startups focused on the intersection between mobility, transportation and energy.

Led by Michael Granoff, Managing Partner, and Nate Jaret, General Partner, the firm invests in deep technologies and business model innovations around two central themes:

  • Startups driving the digitization of transportation’s value chains across land, sea, and air, from manufacturing to fulfillment and logistics, vehicle access, maintenance and repair, insurance, fleet management, and more.
  • Startups driving the decarbonization of transportation via new technologies, form factors, business models, and platforms.

The fund has already made four investments including: 

  • Celadyne, which, based in Chicago, extends the lifespan and efficiency of proton-exchange membranes to make green hydrogen production financially viable. 
  • Neologic, which, based in Israel, introduces a proprietary chip design for dramatic performance and power gains in data centers, automotive and beyond. 
  • Circular, which, based in San Francisco, mainstreams post-consumer recycled plastics adoption in manufacturing, by closing pervasive information and testing gaps. 
  • Vammo, which, based in São Paulo, is electrifying LATAM’s B2B two-wheeler market, by orchestrating vehicles, financing, and a ubiquitous battery swapping network.

From its first two funds, Maniv led investments in breakout companies including AI edge silicon scaleup Hailo from Tel Aviv, EV ridehail and charging network Revel from New York, medium-duty EV truckmaker Harbinger Motors from Los Angeles, intercity bussing platform Kolors from Mexico City, two-wheeler EV OEM River from Bangalore, and Madrid-based car subscription startup Bipi, acquired by Renault’s financing arm RCI Banque in 2021.

VCWire

04/04/2024