Banking & Finance  February 13, 2020

Boulder venture firm opens $100M fund for automotive startups

BOULDER — A Boulder venture capital firm plans to close on a $100 million fund for investment in automotive technology companies this week.
Fraser McCombs Capital, which shares offices in Boulder and San Antonio, Texas, opened a $150 million fund on Tuesday and has yet to receive any investments, according to disclosures with the U.S. Securities and Exchange Commission.
Managing partner Chase Fraser told BizWest the firm plans to make an initial close on the fund Friday with a target of around $100 million. He declined to say exactly how much was invested in the fund.
It previously raised just under $104.7 million from two previous funding rounds in 2012 and 2016, according to SEC filings.
The vast majority of Fraser McCombs’ listed investment portfolio is in companies focused on automated vehicles, smart-car software and vehicle financing. While Fraser lives in Boulder, the firm has only one Colorado company in its portfolio, with the rest across the U.S., Israel and Germany.
“I wouldn’t say this (area) is a hotbed of mobility, but the honest answer is nobody is,” he said.

BOULDER — A Boulder venture capital firm plans to close on a $100 million fund for investment in automotive technology companies this week.
Fraser McCombs Capital, which shares offices in Boulder and San Antonio, Texas, opened a $150 million fund on Tuesday and has yet to receive any investments, according to disclosures with the U.S. Securities and Exchange Commission.
Managing partner Chase Fraser told BizWest the firm plans to make an initial close on the fund Friday with a target of around $100 million. He declined to say exactly how much was invested in the fund.
It previously raised just…

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