Bike industry big names set up micromobility investment fund
A trio of big industry names – René Wiertz, Gérard Vroomen, and Andy Ording – are joining forces to launch a micromobility investment fund with a mission to provide capital and hands-on support to companies poised to lead in the fast-growing micromobility industry.
With Wiertz (former owner of 3T), Vroomen (Cervélo founder) and Ording (former owner of ZIPP wheels), Fundracer has quite the roll-call of industry expertise and experience to draw upon and points out that it is expertly positioned to support companies in the market to maximise the chance of success. Fundracer aims to help shape future transportation trends and generate healthy returns for its investors.
Fundracer has already invested in three disruptive innovators:
Newton Rider: A helmet company aiming to increase helmet use in micro-mobility with comfortable, fashionable and practical helmets.- Bo: Renowned for producing a top-performing and aesthetically pleasing e-scooter on the market.
- Specter: The speed-pedelec company with a unique 2-wheel drive system and dedicated software for optimum riding.
Newton Rider
Andy Ording, former owner of ZIPP wheels and co-founder of Fundracer, said: “I look forward to bringing our expertise to entrepreneurs in the industry, helping them bring more innovation to market and creating truly global winners.”
A recent study McKinsey study found that the micro mobility market is expected to grow three-fold in the next 10 years to $ 520 billion by 2035.
Gérard Vroomen, serial entrepreneur and founder of Cervélo, is also a founding partner. He said: “We are extremely selective in our targets and only invest in companies and markets where we can really make a difference with our expertise. We want to bring the smart money and maximise the success rate of the companies we invest in.”
The fund’s strategy is centered on delivering exceptional value to its portfolio companies, helping them navigate challenges, scale operations, and achieve global market leadership.
“A number of key leaders in the business community have already joined as strategic investor. Most of our investors are also volunteering to support the start-ups we invest in with their knowledge, and in that way, we aim to create a full eco-system of support within the fund,” said René Wiertz, former owner of 3T, and founding partner of Fundracer. “Our unique combination of industry knowledge, entrepreneurial experience, and passion for cycling positions us to identify and support the next generation of micro-mobility champions. Our investors recognise that after the investment boom and bust in the cycling industry, valuations have adjusted significantly, and therefore there is no better time to invest in this industry as right now.”
