Autotech Ventures is betting that the automotive industry will continue to spawn valuable startups. The specialty VC firm, which focuses on companies in the ground transportation space, has closed its debut fund on more than $120 million. Founded by Quin Garcia and Alexei Andreev, Autotech Ventures already has a portfolio of six companies, including Lyft, in a ground transportation industry that the firm sees as being on the verge of a transformation. 

“There are things happening really fast, the pace of innovation is accelerating, and it will have major societal impacts,” Andreev told PitchBook. “I think that within the next 10 to 15 years, we’ll see some pretty drastic changes in how people live, especially in metropolitan areas.” 

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