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BMW Unveils New Venture Fund

BMW has started a venture capital arm to launch its sub-brand, BMW i.

BMW has started a venture capital arm to launch its sub-brand, BMW i, AltAssets reports. BMW i Ventures has been started in New York City with an investment totaling $100 million.

The German car maker is seeking to expand its presence in sustainable vehicles and mobility solutions. Its first portfolio company is a mobile app provider, My City Way, which provides information on transportation and parking availability across the U.S.

Click here for the story from AltAssets.

Click here for the additional coverage from BMW BLOG.

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