FM Capital is a Boulder venture firm investing in early to mid-stage transportation technology startups. It supports entrepreneurs advancing vehicle electrification, fleet management and safety systems to improve efficiency.

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FM Capital is a Boulder, Colorado based venture firm founded in 2011 that invests in early to mid-stage transportation and automotive technology companies. The firm focuses on backing entrepreneurs who seek to improve the efficiency, safety and cleanliness of moving people and goods, while transforming the customer and dealer experience in vehicle sales and service. Its team of industry veterans applies operational insight alongside financial backing to support portfolio companies from initial rounds through growth stages. In April 2025, FM Capital closed its fourth fund at $240 million, and a minority stake acquisition by Holman in August 2024 broadened its access to technical expertise and market channels.

Its hands-on engagement model includes board participation, operational support and strategic guidance tailored to each company’s goals. Using a proprietary sourcing framework, the team identifies trends in electrification, autonomous and connected vehicles, fleet management solutions, retail technology for automotive sales and aftermarket services. The firm looks for companies that can cut emissions, improve uptime for fleets and introduce more effective retail experiences. They often lead follow-on rounds and help companies tap into a network of automotive partners for pilot deployments.

Beyond battery research, FM Capital also supports startups focused on sustainable material processing, charging infrastructure and energy storage solutions that enable electric mobility. Its participation in pH7 Technologies’ Series A round and coverage of Factorial Energy on its site reflect a commitment to methods that reduce reliance on fossil fuels, improve battery performance and lower total cost of ownership for vehicle operators. These investments support the firm’s goal of decarbonizing transport and expanding access to electric solutions.

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