BOSTON, Aug. 15, 2022 (GLOBE NEWSWIRE) -- To better serve its expanding number of automotive-related portfolio companies and in preparation for its fourth fund, FM Capital has added Joe Hinrichs as Venture Partner. Hinrichs was most recently President of Ford Motor Company’s global automotive business.
Hinrichs will assist with overall strategy, deal sourcing, and business development support for FM Capital portfolio companies, including connections and introductions to potential customers, investors and potential acquirers.
Hinrichs spent 30-plus years in the auto industry, primarily with GM and Ford. As President of Ford Motor Company he led the company’s $160 billion global automotive operations, after having previously served as President of Global Operations, President of the Americas and President of Asia Pacific and Africa. Along the way he held executive roles in global manufacturing and materials planning and logistics. At General Motors (GM), he held leadership roles in production and plant management for GM Powertrain. He currently serves as a Board member at Exide Technologies, GPR (formerly WaveSense) and Ascend Wellness Holdings. He’s also an advisor to Luminar Technologies. He previously served on the boards of Ford Motor Credit Company and Rivian LLC.
Hinrichs joins Ron Frey as Venture Partner. Frey has more than 35 years of experience in the automotive industry, including: CEO of Autoland; Partner and Chief Operating Officer at TrueCar; Chief Strategy Officer at AutoNation; Chief Strategy Officer roles at both CU Direct and CDK Global. He currently serves on the board of directors of: CarSaver, Dealer Tire, TradePending, RevolutionParts, Dealer Services Network and CDK Global.
“The combination of Joe and Ron strengthens our proven formula that leverages both the operating experience of our team and the network of our venture partners and strategic investors to identify opportunities and enable transformative innovation in transportation,” said Mark Norman, Managing Partner at FM Capital.
FM Capital’s investment focus is primarily on early to mid-stage companies across a range of transportation technologies, including: auto commerce, autonomy and sensors, connectivity, electrification and shared mobility. The firm identifies trends and partners with teams who are both reinventing the movement of people and goods as well as redefining how transportation services are delivered and consumed. FM Capital typically invests between $5-10 million in companies with transformative solutions in transportation at the series A stage and/or the first institutional round.
About FM Capital
FM Capital (First Move Capital) is an investment firm dedicated to creating value for investors, entrepreneurs and communities. FM Capital is focused on advancing clean, safe and efficient transportation through its investments, ongoing engagement with portfolio companies and an experienced, connected advisory board. The firm’s unique and proprietary investment sourcing process drives high quality deal flow while its management rapport and active engagement drive portfolio performance. FM Capital is comprised of industry professionals with deep experience in both investing and operations across the automotive and mobility sectors. More information is available at www.fmcap.com.
