The Mexican group's VC unit has built a portfolio of more than 20 mobility tech startups.
Grupo Proeza, the owner of a Mexican car parts manufacturer and agribusiness, has sold its corporate venture unit, Proeza Ventures, to US venture capital firm Blackhorn Ventures.
The CVC unit, which invests in early-stage mobility startups, said in a LinkedIn post that the combination with Blackhorn will allow it to scale into a broader platform with deeper domain expertise, expanded global reach and bring greater resources to founders.
Its portfolio of 22 mobility startups includes Cargado, a freight logistics company; Gauge, an online auction software for used vehicles; and Solvento, a payments platform for the trucking sector.
In a blog post, the CVC said the sale will allow it to serve its LPs better, particularly corporate strategics and familiy offices with industrial and manufacturing expertise. It said it will continue to support its founders at the board and operating levels.
“At the same time, this combination expands what we can offer: access to a broader team across Silicon Valley, New York and Denver, a larger capital base, and a more extensive global network of strategic LPs, corporates, co-investors and ecosystem partners,” it said in a Substack blog post.
Mexico-based Grupo Proeza owns Metalsa, a maker of automotive components; Citrofruit, a producer of processed food and drinks; and Astrum, a provider of digital technologies to the energy sector.
Colorado-based Blackhorn invests in software startups that digitise industrial sectors such as energy, construction, supply chain and transportation.
See all the recent Proeza-backed startup deals in the CVC Funding Round Database
