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BMW Unveils New Venture Fund
BMW has started a venture capital arm to launch its sub-brand, BMW i.
BMWhas started a venture capital arm to launch its sub-brand,BMW i,AltAssetsreports.BMW i Ventureshas been started in New York City with an investment totaling $100 million.
The German car maker is seeking to expand its presence in sustainable vehicles and mobility solutions. Its first portfolio company is a mobile app provider,My City Way, which provides information on transportation and parking availability across the U.S.
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