Startups launching technology with the potential to disrupt the travel and transportation industries have a place to go for funding as a result of Thayer Ventures’ announcement of their $80 million investment raise dedicated to those industries. Strategic investors, family offices, sovereign wealth funds and other institutional capital invested in the fund that focuses on innovation in the $10 billion global travel and transportation industries. .
The latest fund, Thayer Ventures Fund III, builds on Thayer’s existing portfolio of related investments that includes: Beekeeper, Dishcraft Robotics, May Mobility and Lifehouse. Thayer touts its deep network of decision makers who facilitate their deal flow as well as offering their portfolio companies unmatched tactical and strategic value that has led to investor returns through multiple profitable exits.
“With this unprecedented period of global change and dislocation, we believe macro-disruptions, including the current COVID-19 environment, will be catalytic towards the pace of innovation and further underscore our long-term investment thesis,” said Chris Hemmeter Managing Director at Thayer Ventures.
San Francisco-based Thayer Ventures prioritizes early stage b2b companies, but sees opportunities in seed and later stage deals in b2b. They manage four active investment vehicles with over $100 million in capital and over 20 active portfolio companies. Their decision to dedicate their fund to two industries was based on a few key factors.
“Travel and transportation are among the world’s biggest and most robust industries, serving fundamental and immutable human needs and aspirations. The return of these industries will be driven by innovators including many of the companies in the portfolios of Thayer Ventures III and our earlier funds,” Mark Farrell, Managing Director at Thayer Ventures.
