Dan Gilbert is one of the biggest investors in the Detroit area, and he's putting his money where his mouth is.
The Quicken Loans founder is among the new investors in Assembly Ventures, a $76 million venture capital fund focused on investing in the mobility sector, the Detroit News reports.
The fund, which closed its first round Wednesday, will invest in companies focused on battery technology, clean energy solutions, climate tech, supply chain optimization, and automotive production, according to a press release.
"We believe that the world is on the cusp of a new geopolitical era where the West will increasingly choose to de-risk its heavy reliance on China," says Assembly co-founder and Detroit Mobility Lab co-founder Chris Thomas.
"In the coming decades, we anticipate a radical reshaping of economies, especially in automotive and mobility technology across air, land, sea and space, along with their respective supply chains."
Assembly has worked with thought leaders in Detroit, Silicon Valley, and Berlin, and is working on opening an office in the German capital to advise on European investment.
Individual investors include Gilbert through his Detroit Venture Partners; Joe Hinrichs, CEO of rail company CSX Corp.; Kirk Steudle, former director of the Michigan Department of Transportation; Nancy Tellem, executive
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