Gupta takes over as head of Toyota’s Woven Capital VC investment arm

Ro Gupta is to replace George Kellerman as the managing director of Woven Capital, Toyota’s $1.6bn growth investment arm. The change in leadership comes just after the investment unit launched a second, $800m fund, bringing it’s capital under management to $1.6bn.

Gupta joined Toyota in 2021 when the spatial AI startup he founded, Carmera, was acquired by the carmaker. He subsequently served as an entrepreneur in residence at Woven Capital. He was most recently vice president of partnerships and strategic operations.

“With fund II, we have the resources and momentum to back founders at a time when AI, climate technology, the energy transition, and the automotive ecosystem are converging at scale and speed to reshape mobility. It’s an historic time to support these companies as they accelerate their journey with the support of Toyota’s global platform,” said Gupta in a release.

Toyota’s commitment to the Woven Capital growth fund remains strong but the appointment of Gupta can be seen as a shift to a different management style that brings more emphasis to working closely with entrepreneurs. Some 80% of the companies Woven Capital invests in go on to have a commercial relationship with a Toyota business unit and this is something the company is eager to lean into further.

Kellerman, who founded Woven Capital in 2021, after forming and leading the corporate venture unit of Yamaha Motor Ventures, will remain at Toyota, serving as an advisor to the chief financial officer.