The automotive components producer will invest in technologically relevant companies at early and late-stage through the newly formed Zukunft Ventures unit.

Germany-headquartered auto parts provider ZF Friedrichshafen has formed a corporate venturing subsidiary called Zukunft Ventures to invest in startups developing technology of interest to the group.

Zukunft Ventures will be stage-agnostic, and will make early-stage venture capital investments as well as forming strategic partnerships with growth-stage companies.

The unit will invest globally, and has not been provided with a specific amount of funding. Although ZF said in a statement it has not been set a specific brief with regard to sectors, it hinted that autonomous car technology would be a priority.

Torsten Gollewski will head the fund as managing director, having led ZF’s Advanced Engineering and Design division since June this year. His brief is to oversee the firm’s strategic growth.

Stefan Sommer, CEO of ZF Friedrichshafen, said: “Zukunft Ventures will help us fill technological gaps faster and tap into new business segments.”

Recent deals closed by ZF include the purchase of a 40% stake in lidar technology developer Ibeo, and a deal that gave it a 40% stake in business optimisation software provider DoubleSlash.

– Photo of Stefan Sommer and Torsten Gollewski courtesy of ZF Friedrichshafen AG.