Trucks Venture Capital, a San Francisco-based firm, has launched its third and largest fund to date, totaling $70 million. The fund will focus on investing in early-stage startups in the transportation sector, including autonomous vehicle tech, electric air taxis, EV charger maintenance, mobility data platforms, and more.

The fund's investment strategy will involve making around 30 seed investments, with checks ranging from $500,000 to $2 million at the seed and pre-seed stage. Trucks VC typically aims to obtain about 10% ownership stakes as part of its strategy. The firm has already invested in several startups from the new fund, including charger installation-as-a-service startup Treehouse, zero-emissions jet aircraft company JetZero, low-cost high frequency kinetic launch firm Auriga Space, and Carvis, which has developed an AI master tech to support mechanics.

Trucks VC's co-founder, Reilly Brennan, has spent over a decade investing in entrepreneurs building the future of transportation. The firm's investment strategy has evolved since its founding in 2014, but its core approach remains the same. Brennan emphasized that Trucks VC doesn't look for startups that fill a specific slot or sector, instead focusing on backing exceptional founders with innovative ideas.

About six years ago, the firm shifted its strategy from developing an idea and seeking out a founder to focusing on great founders. This change allowed Trucks VC to be more flexible and open to new ideas, leading to investments in areas like aviation and aerospace that weren't part of their original mission.

Trucks VC's past investments have yielded successful exits, including Bear Flag Robotics, which was acquired by John Deere, and Zendrive, which Intuit bought last year. The firm has also invested in notable companies like Joby Aviation, autonomous company Gatik, and automated flight control startup Skyryse.

The new fund has secured seven strategic limited partners, including an automotive supplier, tire manufacturer, insurance company, and airline carrier, although the exact investors remain undisclosed. This diverse group of partners will provide valuable industry insights and connections to the startups in Trucks VC's portfolio.

With its latest fund, Trucks VC is poised to continue backing innovative startups that are shaping the future of transportation. As the sector continues to evolve, the firm's focus on exceptional founders and flexible investment strategy will likely yield exciting new developments and opportunities.