Trucks VC Launches $70M Fund for Transportation Startups
Trucks Venture Capital, led by co-founder Reilly Brennan and partners Jeffrey Schox, Kathryn Schox, and Puneeth Meruva, has announced its third and largest fund yet—a $70 million investment pool to propel early-stage startups shaping the future of transportation.
Since its inception in 2014, Trucks VC has focused on transformative technologies in areas like autonomous vehicles, electric air taxis, EV infrastructure, and mobility data. With this new fund, the firm is doubling down on its mission to support groundbreaking startups while remaining flexible to emerging opportunities.
The Investment Approach
Trucks VC plans to deploy the $70 million fund across approximately 30 startups, focusing on seed and pre-seed investments. Individual checks will range from $500,000 to $2 million, with a target of securing around 10% ownership stakes in each portfolio company.
The firm has already begun investing from the fund, backing startups such as:
- Treehouse: A charger installation-as-a-service platform.
- JetZero: A company developing zero-emissions jet aircraft.
- Auriga Space: A firm specializing in low-cost, high-frequency kinetic launches.
- Carvis: An AI-driven master tech platform for mechanics.
Evolving Strategy: Founders First
While the firm’s core philosophy remains unchanged—seeking the best founders in transportation—Trucks has refined its approach over the years. Initially focused on generating ideas and finding founders to execute them, the firm shifted gears about six years ago.
“When we would develop an idea and then go find a founder, we tended to make bad decisions because we were confirming our biases,” Brennan explained. “Now, we focus on finding great founders who introduce us to ideas we hadn’t thought of.”
This shift has enabled Trucks VC to expand into sectors like aviation and aerospace, which were not part of its original mission.
Strategic Partners in the Fund
While Trucks VC has not disclosed the names of the fund’s investors, it includes seven strategic limited partners from diverse industries: an automotive supplier, a tire manufacturer, an insurance company, and an airline carrier. This alignment with industry leaders provides Trucks VC with insights and synergies that can benefit its portfolio companies.
A Track Record of Success
Trucks VC’s portfolio boasts several high-profile successes, including:
- Bear Flag Robotics: Acquired by John Deere.
- Zendrive: Bought by Intuit.
- Joby Aviation: A leader in electric air taxis.
- Gatik: Specializing in autonomous middle-mile logistics.
- Skyryse: Innovating automated flight controls.
Building the Future of Mobility
With its latest fund, Trucks Venture Capital aims to maintain its position as a premier backer of early-stage transportation startups. Brennan emphasizes the importance of being a go-to partner for the best founders: “Our strategy is to be so good that the best founders want to have a conversation with us early.”
As the transportation arena evolves, Trucks VC is poised to identify and support the next wave of innovators redefining how people and goods move. Whether it’s on the ground, in the air, or beyond, Trucks VC is driving the future of mobility forward.
