Fontinalis Partners, a Detroit-based venture capital firm, has closed on its second fund, Fontinalis Capital Partners II L.P., for $100 million. The new fund will invest in companies working on next-generation mobility technologies.
“We founded Fontinalis Partners because we saw a tremendous opportunity ahead in mobility globally, and believed that entrepreneurs in this market would benefit from partnering with an investor that brings unique domain expertise and strategic access,” says Chris Cheever, co-founder and partner of the fund.
Company officials say the new fund, which brings Fontinalis Partners’ total committed capital to $165 million, will focus on investment in areas including autonomous vehicles, logistics and supply chain software, new mobility models, and connected cars and telematics.
Fontinalis Partners has made 23 mobility investments to date in companies of all stages and across all modes of transportation, including road, rail, air, and maritime.
The firm recently contributed to a $3.6 million seed-funding round for nuTonomy Inc., a developer of advanced software for autonomous vehicles.
Founded in 2009, Fontinalis Partners is comprised of global professionals in mobility, telecommunications, and financial services, including William C. Ford, Jr., who is also executive chairman of Dearborn-based Ford Motor Co.