Trucks Venture Capital

High-Level Overview

Trucks Venture Capital is a San Francisco-based venture capital firm dedicated to funding early-stage entrepreneurs reshaping the transportation sector. Founded in 2015, Trucks VC operates with a singular mission: to make transportation decarbonized, safer, and more accessible through strategic investments in climate-positive innovation.[1][4] The firm's investment philosophy rejects sector quotas in favor of backing exceptional founders solving fundamental transportation challenges, whether in autonomous vehicles, electric aviation, EV infrastructure, or mobility data platforms.

The firm has established itself as a specialized player in climate tech investing, recognizing that transportation generates the largest share of global emissions and therefore represents the most critical frontier for climate-positive investment.[4] Trucks VC typically deploys capital at the seed and pre-seed stages, writing checks between $500,000 and $2 million while targeting approximately 10% ownership stakes.[1][2] With 53 total investments across its portfolio and a track record of successful exits—including Bear Flag Robotics (acquired by John Deere) and Zendrive (acquired by Intuit)—the firm has demonstrated both conviction and execution in identifying transformative transportation technologies.[3][4]

Origin Story

Trucks Venture Capital was founded in 2015 by Reilly Brennan, who has spent more than a decade identifying and investing in transportation entrepreneurs.[2] The firm's founding team expanded to include partners Jeffrey Schox, Kathryn Schox, and Puneeth Meruva, creating a leadership structure grounded in deep domain expertise across the transportation ecosystem.[2]

The firm's evolution reflects a maturing thesis rather than a fundamental pivot. While Trucks VC's investment strategy has evolved since inception, Brennan emphasized that the core philosophy remains unchanged: backing the best founders building the future of transportation rather than filling predetermined sector allocations.[2] This commitment to founder quality over portfolio construction has shaped the firm's identity from day one. The launch of Trucks Venture Fund 3 in December 2024—raising $70 million and becoming the firm's largest fund to date—signals confidence in this thesis and demonstrates institutional validation from a diverse set of limited partners including vehicle manufacturers, Tier 1 suppliers, tire manufacturers, insurance providers, rental car agencies, and airline carriers.[1][2]

Core Differentiators

Founder-Centric Investment Model

Trucks VC explicitly rejects the venture capital playbook of sector-based allocation. Rather than targeting "four hydrogen companies and four EV charging companies," the firm prioritizes being "so good that the best founders have to have a conversation with you early."[2] This approach attracts exceptional entrepreneurs across the transportation value chain rather than forcing portfolio construction around predetermined themes.

Deep Transportation Domain Expertise

The firm's limited partners—spanning automotive suppliers, tire manufacturers, insurance companies, and airline carriers—provide unparalleled access to industry intelligence, customer relationships, and distribution channels.[1][2] This network advantage allows Trucks VC portfolio companies to accelerate market adoption and navigate complex regulatory environments more effectively than generalist venture firms.

Proven Exit Track Record

Trucks VC has demonstrated the ability to identify breakout companies early. Portfolio exits include Bear Flag Robotics (automated agriculture, acquired by John Deere), Zendrive (driver safety analytics, acquired by Intuit), NuTonomy (autonomous vehicles, acquired by Delphi), and Coord (mobility data platform, acquired by Google).[3][4] These exits span multiple transportation subsectors, validating the firm's thesis across diverse applications.

Strategic Capital Deployment

With TVF3 targeting approximately 30 seed investments, Trucks VC maintains a disciplined approach to capital allocation while remaining flexible enough to follow winners into later rounds.[1] The firm's willingness to invest across pre-seed through Series A stages allows it to build long-term relationships with founders rather than treating investments as one-off transactions.

Role in the Broader Tech Landscape

Trucks VC operates at the intersection of three powerful macro trends: the climate imperative, the autonomous revolution, and the electrification transition. Transportation accounts for roughly 27% of global greenhouse gas emissions, making it the single largest opportunity for climate tech investors.[4] Unlike generalist climate funds that spread capital across energy, agriculture, and industrial sectors, Trucks VC's specialization allows it to develop proprietary insights into which technologies will actually scale.

The firm's timing has proven prescient. The past decade has witnessed explosive growth in autonomous vehicle funding, EV infrastructure buildout, and sustainable aviation development—precisely the domains where Trucks VC has concentrated its bets. Portfolio companies like Joby Aviation (electric air taxis), Gatik (autonomous trucking), and May Mobility (robotaxi services) represent the vanguard of transportation's technological transformation.[4]

Trucks VC also influences the broader venture ecosystem by legitimizing transportation as a dedicated investment thesis. By raising increasingly larger funds and achieving meaningful exits, the firm has demonstrated that specialized, domain-focused venture capital can outperform generalist approaches. This has inspired other transportation-focused funds and validated the "vertical venture" model across other industries.

Quick Take & Future Outlook

Trucks Venture Capital stands at an inflection point. With $70 million in TVF3 commitments and a portfolio spanning 53 companies, the firm has achieved sufficient scale and track record to become a tier-one player in climate tech investing. The next phase will likely involve deeper follow-on investments in proven winners, potential expansion into later-stage vehicles, and continued geographic expansion (evidenced by recent investments in companies serving European and African markets).[4]

The firm's influence will deepen as its portfolio companies mature and achieve scale. Each successful exit validates the transportation thesis and attracts more capital to the sector. As autonomous vehicles, electric aviation, and sustainable mobility solutions move from proof-of-concept to commercial deployment, Trucks VC's early bets will compound in value—and in influence.

The critical question for Trucks VC's future is whether it can maintain its founder-centric philosophy while managing increasingly large funds. History suggests that venture firms often lose their edge as assets under management grow. Trucks VC's ability to preserve its contrarian, quality-over-quota approach while deploying $70+ million annually will determine whether it remains a category leader or becomes another large, generalist-leaning fund. Given the firm's track record and the structural tailwinds in transportation, the odds favor continued outperformance.