VC firm Maniv is growing in every direction, armed with a $140M new fund

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Venture patient Maniv has grown by astir each measurement since it launched 8 years agone successful Israel — from its investor guidelines and 40-startup portfolio to its geographic focus, footprint and money size.

But moreover pinch a freshly closed $140 cardinal money successful its coffers and a caller agency successful New York City, laminitis Michael Granoff says Maniv is still conscionable seed shape money astatine bosom “that occasionally breaks its ain rules.”

What that intends is mostly nan aforesaid arsenic erstwhile it launched successful 2016: an early-stage finance strategy focused connected what nan patient describes arsenic nan intersection betwixt mobility, proscription and energy.

There are, however, immoderate notable evolutions that hint astatine nan Maniv’s finance strategy pinch its 3rd and latest money known arsenic Maniv III, TechCrunch has exclusively learned. Maniv, erstwhile firmly focused connected Israeli startups, continues to grow its geographic attraction and now has progressive portfolio companies successful 9 countries.

“So we will surely support keep our eyes connected nan section marketplace present but we’ll spell for nan champion deals and study everything we tin from nan woody travel that comes successful a very distributed measurement from astir nan world,” Granoff said.

The VC patient has besides mostly stopped utilizing nan erstwhile trendy umbrella word “mobility,” (often leaving it retired of its original sanction Maniv Mobility) and has opted alternatively to talk astir heavy tech, decarbonization and digitization of nan proscription sector.

“I thought nan trajectory of that word (mobility) was going to proceed to explain overtime, but successful fact, I deliberation nan other has happened for a bunch of reasons,” Granoff explained, adding that while nan word mobility mightiness not beryllium utilized arsenic often, it is still very overmuch cardinal to its mission.

Nate Jaret, wide partner astatine Maniv, said the $140 cardinal money does bespeak caller goals: a much divers group of investors arsenic good arsenic nan inclusion of financial investors who spot nan decarbonization and digitization of each forms of proscription (even nan aerial and sea) arsenic an irreversible secular inclination that generates nan champion financial returns.

Historically, Maniv’s investor guidelines has been loaded pinch automakers. It now amended reflects nan captious and myriad tributaries successful proscription and mobility, Jaret says. In different words, Maniv went extracurricular accepted automotive to find strategical investors successful leasing, fintech, logistics, conveyance maintenance, energy, fleet guidance and repair.

Its newest investors successful nan fund, a group that includes BNP Paribas Personal Finance and nan task arms of Shell and Enterprise Mobility, correspond “the rich | tapestry of industries that are straight impacted by nan changes successful proscription crossed these themes of decarbonization and digitization,” Jaret said. “It’s not conscionable carmakers and Tier 1s that make nan platforms but besides aftermarket insurance, attraction repair, infrastructure players and power players that are trying to understand their caller position.”

The Maniv III money besides includes return investors Valeo and Jaguar-Land Rover task limb InMotion Ventures. Toyota Motor Corp.’s Woven Capital, conveyance leasing institution Arval, proscription infrastructure elephantine Ferrovial, nan business manufacturing patient ITT Inc., fleet payments business WEX and an unnamed European security institution besides participated successful nan fund.

Maniv’s money besides reflects an evolving finance strategy.

The firm, which has astir $320 cardinal successful assets nether management, antecedently led investments successful AI separator computation spot startup Hailo successful Tel Aviv; EV ridehail and charging web Revel successful New York City; medium-duty EV truckmaker Harbinger Motors successful California; intercity busing level Kolors successful Mexico City; two-wheeler EV startup River from India; and Spanish car subscription Bipi, which was acquired by Renault’s financing limb RCI Banque successful 2021.

Maniv is now creeping into nan broader ambiance tech world — astatine slightest wherever it overlaps pinch transportation. The patient has utilized nan caller money to make 4 investments to date, including successful a Chicago-based startup called Celadyne that’s moving to extends nan lifespan and ratio of proton-exchange membranes to make greenish hydrogen accumulation financially viable.

The money has besides invested successful Israeli startup Neologic, which has developed a proprietary spot creation for capacity and powerfulness gains successful information centers and automotive; an e-motorcycle battery-swapping startup called Vammo that’s based successful Brazil; and San Francisco-based Circular, which is pushing nan usage of post-consumer recycled integrative successful manufacturing by closing pervasive accusation and testing gaps.