When a founder has a piece historical past that comes with the identify of the mum or dad corporate of one in all their key buyers, you most likely suppose that was once one of the crucial first offers to come back in combination. No longer so with Might Mobility and Toyota AI Ventures, which hooked up for the corporate’s 2nd seed spherical, after Might went out and raised its authentic seed purely at the energy of its personal concepts and proposed answers.
That’s one of the crucial many attention-grabbing issues we discovered from chatting with Might Mobility co-founder and CEO Edwin Olson, in addition to Leader Product Officer Nina Grooms Lee and Toyota AI Ventures founding spouse Jim Adler on an episode of Further Crunch Are living.
Further Crunch Are living is going down each Wednesday at 3 p.m. EDT/midday PDT. Our subsequent episode is with Sequoia’s Shaun Maguire and Vise’s Samir Vasavada, and you’ll take a look at the approaching time table proper right here.
In the meantime, learn on for highlights from our chat with Olson, Grooms Lee and Adler, after which keep tuned on the finish for a recording of the whole consultation, together with our are living pitch-off.
A distinct solution to company VC
Something Adler introduced up early within the chat is that Toyota AI Ventures most likely takes a unique method than most standard company VCs, that are steadily regarded as being extra incentivized via strategic alignment than via venture-scale returns. Adler says the company he based throughout the automaker’s company umbrella in fact does behave a lot more like a standard VC in many ways than many would suppose.