ACVC Partners and Motus Ventures have received commitments from the car components manufacturer that jointly total $20m.
Hyundai Mobis, the automotive components arm of South Korea-headquartered carmaker Hyundai, has provided a total of $20m in capital for two US-based venture capital funds.
The recipients are ACVC Partners, an early-stage investment firm focusing on millennial-driven technology products, and Motus Ventures, a VC fund and business accelerator focused on transportation, intelligent infrastructure and the internet of things.
Founded in 1977, Hyundai Mobis channels upwards of $800m into in research and development each year and the move is intended to…
