Bosch’s venture arm just announced its fifth fund, saying it is looking for startups with the “potential to improve quality of life and conserve natural resources.”
The new $295 million (€250 million) investment vehicle increases the stakes of Bosch VC’s previous fund by about $53 million, but the German company’s global focus on deep tech remains much the same. For Bosch VC, that vague category includes everything from autonomous vehicles to internet-of-things platforms.
Climate technology is also on the company’s radar, including solar, carbon capture and alternative fuels, CEO Ingo Ramesohl said in an interview with TechCrunch. Typically, Bosch VC supports Series A or B-stage startups and invests up to about $27 million each (€25 million).
Compared to its German parent company, a 135-year-old conglomerate, Bosch VC is led by a relatively small team of 22 investment managers. That number will grow with the impending launch of a new US office in Boston, Ramesohl said. The East Coast office is coming “very soon, actually next week,” Ramesohl added. It will co-exist with Bosch VC’s office in Sunnyvale, CA.
In addition to supporting climate technology startups, Bosch recently said it would cut about $3.5 billion to develop “climate-neutral” technology, including vehicle electrification, hydrogen electrolysers and heat pumps.
This post Rock the Kasbosch? Bosch has a new $295 million venture capital fund – TechCrunch was original published at “https://techcrunch.com/2022/06/03/rock-the-kasbosch-bosch-has-a-new-295-million-vc-fund/”