The rest of the 50 (in alphabetical order): Joshua Berg, director of Innovation Ventures, Magna International
Josh Berg joined automotive component producer Magna International in April 2019 as director of its Innovation Ventures subsidiary, where he oversees venture-related activities globally on behalf of the firm. He established a comprehensive venturing strategy which includes direct investments in startups, limited partner commitments in VC funds, partnerships related to advanced research and development and innovation.
Berg had come from GM Ventures (GMV), the corporate venture capital (CVC) arm of carmaker General Motors (GM), where he had been an investment manager for three years from 2016, having held various managerial roles at its parent company and its security and roadside assistance service, OnStar.
At GMV, he was a board member or observer for some of its portfolio companies. The unit focuses on automotive and smart mobility technology and its investments include autonomous driving technology developer Nauto and electric bus producer Proterra.
He had been an attorney at law firm Zausmer, Kaufman, August, Caldwell & Tayler, where he maintained a litigation practice until 2010, after receiving his juris doctor degree from Wayne State University Law School.
Concerning his CVC journey, Berg said: “CVC allows me to use all of the skills and experiences that I have accumulated thus far in my career and to marry those experiences with my addiction to professional challenges, never-ending variety and profound respect for entrepreneurs.
“At GMV, I was the lead partner in a connected fleet startup. Along with a direct investment, I negotiated two strategic commercial agreements between GM business units and the startup. This partnership yielded tremendous commercial results and the company was acquired by [cloud computing company] Salesforce bringing a healthy return on GMV’s investment. GM and the startup continue to be partners today.”
Confident that Magna Innovation Ventures will bring the most value for startup founders, VCs and chief executives, Berg said: “In the future, when the automotive and transportation industry has undergone a complete evolution, with many companies having been disrupted, Magna will remain on top of the market.
“In short, my ambition is to build Magna Innovation Ventures into the most effective CVC group in the world.”
