ATLANTA, Aug. 8, 2022 /PRNewswire/ -- Automotive Ventures, a leading automotive technology, and mobility Venture Capital firm, today announced the strengthening of its strategic investor base to include industry heavyweight, Wholesale Auto Supply Co., Inc. ("WASCO").
WASCO is a purchasing cooperative owned by automobile dealers in the NY Tri-State area. Best known for its superior products and services, as well as customer service, WASCO supplies dealers with a one stop solution for all things needed to run their businesses including chemicals, janitorial and office supplies, heavy equipment, OEM compliant furniture and much more. In addition, its members receive favorable financial returns in the form of a patronage dividend.
This latest investment expands the breadth and depth of DealerFund's connectivity to the dealer landscape. The investment fund focuses on driving strong outcomes for dealers who invest in early-stage dealership related technologies.
"Automotive Ventures is committed to supercharging the dealer community through the next wave of industry transformation," said Steve Greenfield, founder, and CEO of Automotive Ventures, "And today, I'm honored to add Wholesale Auto Supply Company to a growing list of strategic investors to our first of its kind fund family."
Andrea Karsian, CEO remarked, "We're excited about the visibility into the most cutting-edge automotive technologies and access to incredible thought leaders across the automotive marketplace. We believe that working with the tight-knit investors in the DealerFund community will further advance WASCO's unique value proposition for our dealership members."
This latest news comes shortly after the first close announcement of the Automotive Ventures DealerFund, and the expansion of the leadership team in the Spring.
About Automotive Ventures
Automotive Ventures, a leading automotive technology, and mobility Venture Capital firm, was founded in 2014 by Steve Greenfield, an industry expert on mergers, acquisitions, strategy and capital raises.
Automotive Ventures harnesses the knowledge and intuition that comes from 20+ years of automotive experience; oversight of more than $1 billion in acquisitions; and negotiation of hundreds of automotive software and data agreements.
Automotive Ventures is composed of a team of industry experts as employees, advisors, and investors who have built deep relationships with - and provide connections to - automotive industry decision-makers.
About Wholesale Auto Supply
Since 1959, Wholesale Auto Supply Company's mission has been to offer the highest quality products and services at the most competitive prices for its automobile dealer members located in the NY Tri-State area.
WASCO has long been known in the auto industry for its ability to provide dealerships with the best volume pricing discounts, purchasing efficiency, customer service, next-day delivery, facility design, and annual dividends paid out. While its greatest benefit is savings, the ease of doing business with WASCO allows business owners to focus on the important opportunities of the times.