Tom LaSorda (former CEO of Chrysler Group LLC), Fisker Automotive, and car racing mogul Roger Penske (pictured above) have launched a new venture capital fund to invest in technology startups called IncWell LP. IncWell will invest between $50,000 and $250,000 per company. IncWell will focus primarily on clean energy, medical, healthcare, transportation, and information applications.
LaSorda (pictured left) used to work at General Motors Company before leaving Chrysler in 2009, right after the company filed for bankruptcy. LaSorda later started a venture capital company called Stage 2 Innovations with the founder of the 5-Hour Energy drink Manoj Bhargava.
LaSorda joined Fisker Automotive in February 2012 and was in charge of revamping the company. At the time that LaSorda joined Fisker, the company was raising funds to develop their second model vehicle called the Atlantic. LaSorda left Fisker in August 2012 and now the company is looking for a buyer and is hiring bankruptcy advisers. Rumor has it that Fisker has offers from Wanxiang Group and former GM executive Bob Lutz.
Penske is known as the owner of Penske Corporation. He also runs a dealership group called Penske Automotive Group. Penske also owns a racing team called Team Penske, which has won the storied Indianapolis 500 race 15 times.
[Image Credit: Autointell /