SAN ANTONIO--(BUSINESS WIRE)--Fraser McCombs Capital (FMC) announced today it is launching a second automotive-focused investment fund, FMC Fund II.
FMC was founded by Billy Joe “Red” McCombs and Chase Fraser in 2012. McCombs is the founder of the Red McCombs Automotive Group, a co-founder of Clear Channel Communications, a former owner of the San Antonio Spurs, Denver Nuggets, and the Minnesota Vikings, and the namesake of the McCombs School of Business at the University of Texas at Austin. He is a long-standing member of Forbes magazine’s top 400 richest Americans and has owned nearly 400 businesses during his career.
The firm’s three directors, Chase Fraser, Tony Rimas and Mark Norman, have engineered nine exits in 10 years with returns of more than 4x. Currently, FMC’s Fund I portfolio consists of investments in 17 companies.
Investors in FMC Fund II include multiple strategic industry players. The goal is to partner with companies offering new solutions in the following areas:
- Dealer Services & Retail Experience
- On-Demand Services & Fleet Management
- Intelligent Vehicle Systems
- Financial Technologies
- Data, Media & Predictive Analytics
“We’ve put together a solid team of investors who share our vision of partnering with companies that possess disruptive technologies that fundamentally change and improve the automotive business,” says co-founder and director Chase Fraser. “We have a track record of being involved with our portfolio companies, providing operational and sales expertise, helping them quickly grow from being startups to becoming firms that have real influence in the industry.”
About Fraser McCombs Capital
Fraser McCombs Capital (FMC) is a leading automotive-focused investment firm. Founded in 2012 by Billy Joe “Red” McCombs and Chase Fraser, the firm’s automotive roots date back several decades. FMC’s mission is to bring capital and mentorship to the underserved automotive startup marketplace, an area often ignored by traditional investment firms. We look to invest in new technologies and business models within the automotive vertical. By leveraging our deep knowledge base, we are able to connect key players on behalf of our portfolio companies. More information can be found at www.fmcap.com.