FM Capital

Fraser McCombs Capital (FMC), based in Boulder, Colorado, is a specialized venture capital firm dedicated to investing in early and growth-stage companies that are fundamentally transforming the auto-mobility sector. Founded by Mark Fraser and Chris McCombs, the firm has carved out a niche by focusing exclusively on disruptive technologies and innovative business models within this evolving industry. Their investment philosophy centers on identifying companies with strong management teams, groundbreaking technologies, and significant market opportunities poised to reshape how people buy, sell, and interact with vehicles.

FMC's strategic approach involves providing capital to companies from their early stages, including Seed and Series A rounds, and continuing to support them through later growth equity stages. While specific fund sizes are not publicly disclosed, reports from 2017 and 2018 indicate that Fraser McCombs Capital typically deploys initial investments ranging from $1 million to $5 million per company. This range allows them to back promising startups at critical junctures, enabling product development, market expansion, and team scaling. Their willingness to participate in follow-on rounds demonstrates a long-term commitment to their portfolio companies' success.

The firm's portfolio showcases a strong track record of backing companies that have achieved considerable success and market recognition. Notable investments include pioneering online used car retailers like Carvana and Vroom, as well as digital wholesale auction platforms such as ACV Auctions. Other key portfolio companies like Roadster, Shift, and Blinker further illustrate FMC's deep engagement across various facets of the auto-mobility ecosystem, from digital retailing to peer-to-peer transactions. With a reported 24 investments and 10 exits according to Crunchbase, FMC has demonstrated its ability to identify and nurture ventures that ultimately deliver substantial returns and reshape the automotive landscape. Their focused expertise provides significant value beyond just capital, offering strategic guidance and industry connections to their portfolio companies.