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Cathie Wood Backs New Mobility-Focused VC Fund

Oct. 18, 2021, 7:30 PM

Techno-utopian Cathie Wood has become famous betting on the public markets. She’s also investing in private ones.

Wood is backing Santa Monica, California-based Up.Partners, a venture capital firm investing in mobility startups. Up plans to announce Monday it closed an inaugural fund of $230 million—raised from a group of investors that also includes Alaska Air Group Inc. and Woven Capital, a venture capital off-shoot of Toyota Motor Corp.’s subsidiary Woven Planet.

Wood invested in the fund personally, not through her company, Ark Investment Management. Up declined to say how much she invested. A representative for Wood declined to comment.

Up.Partners’ Adam Grosser, chairman and managing partner, from left, Cyrus Sigari, co-founder and managing partner, and Ben Marcus, co-founder and managing partner.
Source: Up.Partners

Philosophically, Up is a natural ...