climate solutions

In brief: Jaguar-Land Rover, Toyota back decarbonising transport VC

Maniv has closed its third venture fund at $140m, backing early-stage companies decarbonising and digitalsing the transport sector.

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Jaguar-Land Rover, Toyota and Shell are among the corporate LPs backing a venture capital fund focused on the decarbonisation of transport.

Maniv Mobility, headquartered in Tel Aviv and New York, has closed its third fund on $140 million. LPs include numerous corporates’ VC funds, such as InMotion Ventures (Jaguar-Land Rover’s VC unit), Woven Capital (Toyota Motor Corp), Shell Ventures and Enterprise Mobility Ventures (car rental company Enterprise), and car parts supplier Valeo’s corporate VC arm.

The fund invests in seed and Series A companies developing decarbonisation, low carbon and more efficient solutions for transport. It has already made four deals. Transport is a sector that underpins “human prosperity”, Maniv general partner Nate Jaret said in a LinkedIn post.