Salt Lake City — BUILD Capital Partners (“BUILD”) has today announced the launch of Lane VC, a new, autonomously managed venture capital firm focused on the EV market and adjacent businesses linked with the mobility industry. Lane VC succeeds BUILD Mobility and will manage the existing portfolio of BUILD Mobility, which was established in 2019 with an initial investment into XOS Trucks. Since then, the firm has seen XOS go public, and continued to invest in mobility startups in Europe and the Americas.

“At BUILD, we are serious about finding and funding companies that are making a positive impact in the world, driving positive financial results, and leading innovation in their industry. With funding to electric vehicle tech companies hitting an all-time high in 2020, the overall EV market maturing, and our success with XOS Trucks, the decision to spin out our mobility arm is another milestone in BUILD’s growth. We are absolutely thrilled for Lane VC to become an independent firm,” says Brent Jacobsen, Founding Partner at BUILD Capital Partners.

Lane VC aims to bring its mobility expertise and strong track record in successful investments to early and growth-stage EV startups globally. The firm will continue to deploy capital across Europe and the Americas, primarily leading direct investment rounds with initial investments of up to $25 million. It will be led by Kasey Evans, who has led BUILD Mobility since joining BUILD in early 2019.

Kasey Evans, managing director of Lane VC, says: “Our move to independence represents the natural evolution of our business, which has built a track record for robust value creation in the mobility space. We are eager to keep on delivering strategic value to our limited partners, enhancing our specialized area of expertise, and working with our portfolio companies in shaping transportation innovation. Becoming an independent firm allows us to be even more agile and further accelerate the electric transformation of the mobility space.”

BUILD will continue to participate in EV investments with Lane VC and looks forward to sharing in the long-term success in the ever-expanding EV sector.