Transportation-focused UP.Partners closes inaugural fund

The Santa Monica, California-based firm, founded by aviation and tech entrepreneurs Ben Marcus and Cyrus Sigari, raises $230m.

Santa Monica, California-based UP.Partners, an early-stage firm focused on companies that are transforming the moving world, announced it has raised $230 million for its debut fund. Investors include Alaska Air Group; ARK Invest Founder and chief executive Cathie Wood, Woven Capital, the investment arm of the Woven Planet Group, a Toyota Motor Corporation subsidiary; privately-held industrial company Standard Industries; global real estate developer Hillwood, a Perot Company; and leading ship management company OSM Maritime, among others.

Managing partners include aviation and tech entrepreneurs Ben Marcus and Cyrus Sigari along with Adam Grosser, who was formerly with Silver Lake Partners.

Source: Press release