Mobility

New Houston-based fund raises $50 million to back mobility startups

A new venture capital fund based in Houston and Monterrey, Mexico, has raised $50 million to back mobility startups.

Photo by Getty Images

A new venture capital fund has mobility on the mind — and it's just raised $50 million to support startups working on solutions in the mobility or mobility-related industries.

Proeza Ventures, which is based in Houston and Monterrey, Mexico, reportedly closed its first fund Proeza Ventures I. The fund is backed by Grupo Proeza, a Mexican portfolio management company with two global platforms operating in the mobility and agroindustry sectors, according to the fund's website.

Metalsa The company owns Metalsa, a structural products supplier and the current market leader in frames for light trucks.Photo courtesy of Metalsa

"Our mission is to discover and invest in visionary founders building early stage startups transforming the way in which we think about mobility and with whom we can partner to make a more sustainable world," says Rodolfo Dieck, managing director at Proeza Ventures, in a news release.

With the fund's money, Proenza Ventures will invest in 12 to 15 early or growth-stage startups with solutions or new technology within industrial, smart components, new vehicles, MaaS, and digital data services.

"We expect to be writing first time checks in the range of $500,000 and up to $2 million reserving enough capital to support companies in their development trajectory," says Dieck in the release.

Grupo Proeza comes with a network of experts. The company owns Metalsa, a structural automotive products supplier and current market leader in frames for light trucks in North America, per the release. The subsidiary has more than 60 years of global manufacturing and operating experience within the industry.

The group will use its platform to benefit startups within its portfolio, which already includes Boston-based Indigo Technologies that's developing an in-wheel e-motor and a California-based micro mobility company that is disrupting the scooter ecosystem.

"We back entrepreneurs with an ambitious vision and the grit and operational skills to execute their business plan and transform the sectors they participate in," says Enrique Marcelo Zambrano, principal at P.V., in the release. "We expect to help them leverage our deep expertise in mobility, our unique platform and network."

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This story originally appeared on AutomotiveMap's sister site, InnovationMap.

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Barrett-Jackson traditionally sells hundreds of vehicles per auction.

Photo by Getty Images

Automotive auction house Barrett-Jackson is set to host its first Houston Auction on September 16-18, 2021. The auction house will set up temporary quarters at the NRG Center when it rolls into town for the three-day event.

The Barrett-Jackson Houston Auction will be the first collector car auction the company has ever held in the Lone Star State. It's set to feature a broad range of vehicles including vintage and custom cars, supercars, and late-model vehicles. There will also be authentic automobile up for bid.

"We're incredibly excited to head out to Houston this fall for our first collector car auction in Texas, said Craig Jackson, chairman and CEO of Barrett-Jackson. "Enthusiasts across the region, especially Texans, have a deep passion for collector cars. Only a few years ago, my search for the lost 1967 Ford Shelby EXP 500 prototype dubbed 'Little Red' led me to North Texas, where I found the fabled Mustang. There's an unmistakable car culture in Texas, and we're looking forward to fueling that passion with our inaugural Houston Auction in September."

Like the Mecum Auctions event in April, Barrett-Jackson will have an audience for their auction. Tickets to the event are available online only. Through September 15, tickets are $80 per adult; $60 for students, senior citizens, and military personnel; and $35 for children. On event days, tickets can be had at the rate of $90 for adults; $70 for students/seniors/military; and $45 for children.

Some VIP ticket packages are available. Pricing for those packages is not currently available though interested members of the public may currently visit the Barrett-Jackson home page and made a deposit on their VIP experience.

Registering as a bidder is also available online. On-site bidder amenities include one bidder badge (adult admission for each day of the auction), guest credential (adult admission for each day of the auction), a preferred parking pass (if available), access to bidder seating and the Bidder Bar, Barrett-Jackson event catalog. Tier 1 bidders also receive a bidder badge with drink tokens and one guest credential with drink tokens.e

"They say everything's bigger in Texas, and that's exactly what you can expect from our inaugural Houston Auction," said Steve Davis, president of Barrett-Jackson. "With the sprawling NRG Park as our backdrop, our docket will be as wide and diverse as the state itself. From the custom off-road trucks and SUVs that have made Texas the Truck Capitol of the World to modern supercars that race their way around Circuit of the Americas, we'll have a car for every type of collector."

Owners wishing to consign a vehicle for sale still have the opportunity to do so. To start that journey, visit www.Barrett-Jackson.com.

Information regarding the event's traditional opening night gala has not yet been released. Barrett-Jackson recently cancelled their Scottsdale gala out of concern regarding the spread of COVID-19.

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This 2018 Dodge Challenger SRT Demon is just one of the models up for auction next month.

Photo courtesy of Mecum Auctions

Mecum Auctions will return to NRG Center in Houston for its 10th consecutive year this April. The auction is set to feature an estimated 1,000 American muscle cars, classics, Corvettes, exotics, trucks, hot rods, and resto mods.

Mecum will be taking up 706,000 square feet of space in 11 separate halls at NRG Center from April 8-10, 2021. Doors open daily at 8 a.m. with the vehicle auction beginning at 10 a.m.

The auction house has already had a number of vehicles consigned to Mecum Houston 2021 including a 2018 Dodge Challenger SRT Demon (Lot S122) with a mere 3 miles on its odometer, and a 2005 Dodge Ram SRT-10 Yellow Fever Edition Pickup (Lot S65) with just 2,555 miles. There's also a 1966 Plymouth Belvedere Hardtop (Lot S63) that has had a comprehensive frame-off restoration.

1966 Plymouth Belvedere Hardtop This 1966 Plymouth Belvedere Hardtop is set to cross the block at the Houston auction.Photo courtesy of Mecum Auctions

1966 Plymouth Belvedere Hardtop

Mecum Auction's website is updated daily with the latest consignments including detailed descriptions and photographs of the vehicles.

In order to get a vehicle at the auction, bidders must register ahead of time via the Mecum website. They can also register on-site for $200. Bidder registration includes admission for two persons to all three days of the auction.

Remote bidding options are available available and include online and telephone bidding.

General admission tickets are available online for $20 per person, per day up until Wednesday, April 7. After April 7, the price rises to $30. Children ages 12 and younger receive complementary admission. There will be no on-site box office.

The auction schedule is still TBD and will be announced closer to the event date.

Portions of Mecum Houston 2021 will be broadcast on NBC Sports Network with details of the coverage to be announced.

There's still time to consign a vehicle to be auctioned at the event. Those interested can learn more by visiting Mecum.com or calling (262) 275-5050.

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