General Motors Creates GM Ventures and Provides $100 Million in Initial Funding

General Motors (GM) announced earlier this month that it had created a venture capital subsidiary, General Motors Ventures, LLC, designed to help the company identify and develop innovative technologies in the automotive/transportation sector.

GM Ventures will be led by Jon J. Lauckner, GM Vice President and President, General Motors Ventures, reporting to Stephen J. Girsky, GM Vice Chairman Corporate Strategy and New Business Development.  Lauckner's new position is effective July 1, 2010.  He previously served as GM Vice President of Global Product Planning. 

"We are constantly looking for ways to deliver the best technology for our customers," said Mr. Girsky. "Our goal is to nurture these innovative technologies to help bring them to market, and to ensure our customers have access to the best technology available."

General Motors Ventures has been funded with an initial investment of $100 million, and is currently exploring equity investments in a number of auto-related technologies and business models.