…UP.Partners today announced the final close of its inaugural $230M early stage venture capital fund dedicated to supporting companies that are transforming the moving world.
The movement of people and goods is the underlying fabric of society. Transportation and logistics represent 10% of global GDP, which is approximately $10T annually. With transportation responsible for 29% of global CO2 emissions, emerging technologies are creating opportunities for fundamental reinvention of mobility solutions that are cleaner, faster, safer and lower cost. Examples include package delivery drones, electric vertical aircraft for urban air mobility, software for precise positioning, hydrogen powered airliners, sustainable aviation fuel, ultra low cost LIDAR sensors, micro-mobility scooters and e-bikes, advanced manufacturing techniques, electricity grid enhancement for recharging, and more.
Building a Virtuous Ecosystem Focused on Mobility’s Future
UP.Partners has assembled a world class consortium of leaders in aerospace, automotive, maritime, hardware, software, telecom, finance and media to harness the movement of electrons, atoms and capital to help humanity go UP. Investors include Alaska Air Group (NYSE: ALK); ARK Invest Founder and CEO Cathie Wood, Woven Capital, the investment arm of the Woven Planet Group, a Toyota Motor Corporation subsidiary; privately-held industrial company Standard Industries; global real estate developer Hillwood, a Perot Company; leading ship management company OSM Maritime, and more.
“Our investment in UP.Partners demonstrates Alaska Air Group’s continued commitment to supporting a cleaner and more accessible world of transport,” says Alaska Air Group CEO Ben Minicuccui. “The UP.Partners team, portfolio and ecosystem of corporate partners and investors is truly world class, and we are proud to partner with UP.Partners on this journey of supporting early stage technology companies that are transforming the moving world.”
“Transforming mobility through technology is central to the mission of Woven Planet, and UP.Partners’ investment strategy is in complete lockstep,” said Betty Bryant, Principal, Woven Capital. “Woven Capital is excited to team up with UP.Partners as they encourage entrepreneurs who are focused on wide-ranging solutions that allow people, goods and information to move more seamlessly, cost-effectively, and sustainably than ever before, benefiting humanity and the health of the planet for all.”
The Davos of Mobility
A critical element of the UP.Partners strategy is the annual UP.Summit which brings together entrepreneurs, executives, and investors with the common goal of improving mobility. The UP.Summit is hosted in alternating years in Bentonville, Arkansas and Dallas, Texas, co-hosted by Steuart and Tom Walton, and Ross Perot Jr, respectively.
From the time of its inception in 2017, the UP.Summit has grown into the most important annual gathering for mobility’s boldest innovators, investors and corporations.