HarbourVest Partners and Hamilton Lane have acquired stakes in a vehicle spun out from Bridgepoint’s fourth-generation fund, Unquote understands.
GP acquires the automotive networked systems business as part of a succession solution
Startup plans to use the seed funding for launching new products, scaling up production, growing its team and to cover costs for patents
PSG intends to support the company's product diversification, geographic expansion and search for M&A opportunities
Vehicle is TVM's largest ever fund and the second in its exclusively life-sciences-focused strategy