Trucks Venture Capital: Unveiling TVF3 with $70M Commitment
Funding | Jan 05, 2025 | Trucks Venture Capital
Trucks Venture Capital has announced the close of its latest fund, Trucks Venture Fund 3 (TVF3), securing $70 million in commitments. This represents the firm's largest fund to date, though it remains a smaller entity by venture capital standards. With this fund, Trucks plans to make approximately 30 seed investments focusing on developing future transportation innovations. The fund's backers include a significant range of global transportation players, from vehicle manufacturers to airlines, underscoring the depth and breadth of support for the firm's vision. Alongside the fund's launch, Puneeth Meruva, who joined Trucks six years ago, has been promoted to Partner. Trucks Venture Capital has consistently aimed to support safer, cleaner, and more accessible transportation, evolving from initial investments in automobiles to encompassing aviation, aerospace, and other sectors. This comprehensive approach speaks to Trucks' commitment to shaping the expansive $5 trillion transportation industry.
Sectors
- Venture Capital
- Transportation
Geography
- Global – Trucks Venture Capital's fund involves a diverse collection of global transportation players and investors.
Industry
- Venture Capital – Trucks Venture Capital is launching a new venture fund, TVF3, aimed at investing in early-stage companies.
- Transportation – The fund aims to back entrepreneurs innovating within the transportation sector, indicating a focus on this industry.
Financials
- $70M – Total commitments raised for Trucks Venture Fund 3.
- $500k to $2M – Typical investment size made from the fund at seed and pre-seed stages.
- 10% – Typical ownership stake that Trucks Venture Capital aims to acquire in its investments.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Trucks Venture Capital | Venture Capital Firm | Company | Trucks Venture Capital is managing the new TVF3 fund and investing in early-stage transportation-related companies. |
| Puneeth Meruva | Partner | Person | Recently promoted to Partner at Trucks Venture Capital, played a key role in the development of TVF3. |
| Limited Partners | Investors in Fund | Company | A collection of transportation-related global entities investing in Trucks Venture Fund 3. |