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Porsche to invest €250 million in new startups, creates a new subsidiary

Porsche is putting aside roughly $273 million (€250 million) to invest in new start-ups and increase its investment in existing venture capital assets.

Following this announcement, Porsche Ventures will be converted into a separate subsidiary called Porsche Investments Management S.A., which will be based in Luxembourg to handle this operation.

“We are very pleased with developments thus far and are now vigorously shifting into high gear with Porsche Ventures 2.0,” said deputy chairman of the executive board and member of the executive board for Finance and IT at Porsche AG, Lutz Meschke. “The location in Luxembourg, in the heart of Europe, underscores the international orientation of our venture capital activities. Porsche Investments Management S.A. will have greater agility in its decision-making to ensure that we are even more efficiently structured and can move quickly on investment opportunities.”

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The new division will oversee Porsche’s approximately 60 start-up investments. There are already finance offices in Palo Alto, Berlin, Tel Aviv, and Shanghai.

In addition to managing Porsche AG’s venture capital investments, the newly formed subsidiary will oversee strategic investments such as Porsche e-Bike Performance GmbH.

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The start-ups will have access to the automaker’s resources, while Porsche gains access to the innovative ideas developed by these enterprises.

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Dennis Mathu
Dennis Mathu
I cover motoring news, gadgets, software releases, mobile apps and enterprise systems powering corporations. Contact me at [email protected] or [email protected]

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