Hella Ventures has moved its team to Michigan to be closer to the centre of the US automotive sector.
Photo by Josh Garcia on Unsplash
Automotive parts supplier Forvia Hella has moved its venturing unit, Hella Ventures, to the US city of Detroit to be closer to the mobility industry.
Detroit is home to carmakers Ford and General Motors and many of their suppliers.
Hella Ventures was located in San Francisco, close to Silicon Valley, the centre of the US’s venture capital investor community.
GCV understands that some of the Silicon Valley venture team have left the unit.
Jens Hunecke, CEO of Hella Electronics, will lead the ventures team as head of Hella Corporate Center USA.
Founded in 2015, Hella Ventures invests in series A to C stage startups in mobility, climate tech, deep tech, manufacturing and robotics.
On its LinkedIn page, the company says its key differentiator is its close relationship to the mobility industry and the market access it can provide.
“We are continuing with our portfolio and are engaging with them actively,” said a spokesman in an email. “We will continue to scout technologies which will support the goals of Forvia Hella, and if the opportunity is right, we continue to invest.”