Maniv, a global venture capital firm based in Tel Aviv and NYC, announced the closing of its third fund, a $140 million vehicle to invest in Seed and Series A stage startups. This brings the firm’s assets under management to nearly $320 million.
Maniv, which has been investing since 2016, was among the first institutional investors to articulate a global, early-stage investment strategy focused on the intersection between mobility, transportation, and energy.
Maniv has already made four investments out of the new fund.
1.) Celadyne, based in Chicago, extends the lifespan and efficiency of proton-exchange membranes to make green hydrogen production financially viable.
2.) Neologic, based in Israel, introduces a proprietary chip design for dramatic performance and power gains in data centers, automotive, and beyond.
3.) Circular, based in San Francisco, mainstreams post-consumer recycled plastics adoption in manufacturing, by closing pervasive information and testing gaps.
4.) Vammo, based in São Paulo, is electrifying LATAM’s B2B two-wheeler market by orchestrating vehicles, financing, and a ubiquitous battery-swapping network.
From its first two top-performing funds, Maniv led investments in breakout companies, including AI edge silicon scaleup Hailo, EV ride-hail and charging network Revel, medium-duty EV truckmaker Harbinger Motors, intercity bussing platform Kolors, two-wheeler EV OEM River, and car subscription startup Bipi (acquired by Renault’s financing arm RCI Banque in 2021).
Maniv’s third fund was backed by institutional capital, high-net-worth individuals, and a consortium of industry leaders at the forefront of the transportation sector. And Maniv’s previous funds were substantially backed by leading carmakers and Tier-1 suppliers. Maniv III maintains those automotive partnerships, including return investors Valeo and InMotion Ventures, the investment arm of Jaguar-Land Rover, joined by Woven Capital of Toyota Motor Corp.
This new fund has expanded its LP base to reflect critical automotive adjacencies through partners including global vehicle leasing and mobility solutions leader Arval and the automotive finance experts of BNP Paribas Personal Finance of Europe’s leading bank BNP Paribas; Shell Ventures of the global energy giant Shell; global sustainable infrastructure leader Ferrovial; Enterprise Mobility Ventures, the VC arm of Enterprise Mobility; industrial manufacturing leader ITT Inc.; fleet payments leader WEX; a major European insurance company; several major automotive dealer and distributor groups; and more.
KEY QUOTES:
“Our third fund builds on two decades in the trenches of the global mobility ecosystem. Maniv has built a platform to summon the best of two worlds – the agility of a traditional VC, and close proximity to the underlying industries surrounding mobility and transportation. We believe we are uniquely structured to leverage our deep institutional memory and access to industry decision-makers, for the benefit of our portfolio companies and ultimately our investors. Announcing this new vehicle amidst a backdrop of geopolitical uncertainty and shaky private markets is a testament to the resilience of the sector and our strategy.”
– Michael Granoff, the firm’s Managing Partner
“Maniv’s mandate is to deliver outsized returns by joining forces with those rare entrepreneurs with both the vision and tenacity to drive the transportation sector into the 21st century. Human prosperity depends on the seamless and sustainable movement of people and goods; mobility continues to represent a generational opportunity for entrepreneurs and investors alike.”
– Nate Jaret, General Partner at Maniv
“When we met Maniv, we had spoken to over 100 investors and operators of electric mobility around the world and nobody – repeat nobody – was more knowledgeable about the space than the Maniv team. Getting them not just onto our cap table but also our board quickly became a priority.”
– Jack Sarvary, Co-founder & CEO of portfolio company Vammo (based in São Paulo)
“From the outset it was clear that Maniv is deeply connected to forward-thinking mobility players. Within weeks of our first conversation, the Maniv team found us new enterprise partners and customers in the auto space, which would have taken us months to figure out on our own.”
– Ian Arthurs, Founder & CEO of portfolio company Circular
