FM Capital welcomes former Ford president as enterprise accomplice – Auto RemarketingAugust 17, 2022
FM Capital is trying to serve its increasing variety of automotive-related portfolio corporations higher in addition to put together for its fourth fund.
So, on Monday, the agency added a brand new enterprise accomplice — Joe Hinrichs — who most not too long ago was president of Ford’s world automotive enterprise.
In response to a information launch, Hinrichs will help with total technique, deal sourcing and enterprise growth help for FM Capital portfolio corporations, together with connections and introductions to potential prospects, traders and potential acquirers.
Hinrichs has spent greater than 30 years within the auto business, primarily with Normal Motors and Ford.
As president of Ford, he led the corporate’s $160 billion world automotive operations, after having beforehand served as president of World Operations, president of the Americas and president of Asia Pacific and Africa. Alongside the best way he held government roles in world manufacturing and supplies planning and logistics.
At GM, Hinrichs held management roles in manufacturing and plant administration for GM Powertrain.
Hinrichs at present serves as a board member at Exide Applied sciences, GPR (previously WaveSense) and Ascend Wellness Holdings. He’s additionally an advisor to Luminar Applied sciences. He beforehand served on the boards of Ford Motor Credit score and Rivian.
Hinrichs joins Ron Frey as enterprise accomplice.
Frey has greater than 35 years of expertise within the automotive business, together with:
— CEO of Autoland
— Companion and chief working officer at TrueCar
— Chief technique officer at AutoNation
— Chief technique officer roles at each CU Direct and CDK World.
Frey at present serves on the board of administrators of CarSaver, Seller Tire, TradePending, RevolutionParts, Seller Companies Community and CDK World.
“The mixture of Joe and Ron strengthens our confirmed formulation that leverages each the working expertise of our staff and the community of our enterprise companions and strategic traders to establish alternatives and allow transformative innovation in transportation,” FM Capital managing accomplice Mark Norman stated.
FM Capital’s funding focus is totally on early to mid-stage corporations throughout a spread of transportation applied sciences, together with auto commerce, autonomy and sensors, connectivity, electrification and shared mobility.
The agency identifies tendencies and companions with groups who’re each reinventing the motion of individuals and items in addition to redefining how transportation providers are delivered and consumed.
FM Capital sometimes invests between $5 million and 10 million in corporations with transformative options in transportation on the sequence A stage and/or the primary institutional spherical.