More On That General Motors VC Fund

General Motors today announced that it is launching a venture capital fund focused on the automotive and transportation sectors, with an initial commitment of $100 million.

It will be led by Jon Lauckner, who previously served as GM’s vice president for global product planning. I spent a few minutes on the phone with Lauckner, and learned the following:

* The fund will have a fairly broad focus within the transportation framework. This means that it could invest in everything from batteries to biofuels to Bluetooth.

* On that last point, Lauckner said: “The envelope of automotive technology is ever-epanding, particularly the area of what we call infotainment. More and more technology is making its way from home and business applications into cars, and drivers want to have that functionality.”

* Lauckner said that the fund’s primary focus is strategic, but that it does also care about return-on-investment.

* He declined to say how long the initial $100 million is intended to last, pointing out that he’s only been on the job for two hours.

* GM does not have a legacy private investment portfolio.

* Lauckner’s team currently consists of a small group that already was working for Stephen Girsky, GM’s vice chairman of corporate strategy and business development. He hopes to add a few more heads, probably including someone with more of a traditional VC background.