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Qualcomm, Amura Capital back Formula E

15 May 2014

formula eQualcomm’s venture capital arm and Andorra-based private equity firm Amura Capital have participated in a €50m round raised by the Formula E electric car racing series.

Existing backer Causeway Media Partners, which owns the NBA’s Boston Celtics, also participated in the round.

Formula E will hold its first race in September this year at the Olympic Stadium in Beijing.

Amura Capital CIO Ivan Comerma said, “As a private equity fund, this investment makes sense in a diversified portfolio of best-class and unique opportunities for our clients.

“It is a project that shares many of the same values of our company, going that one step further by investing in the environment and sustainability with large doses of innovation.

“All of this is done without forgetting about the main keys to our investment offers: exclusive and profitable products for our clients.”

Other businesses backed by Qualcomm Ventures include Swedish social gifting company Wrapp, which raised $15m in a Series B backed by the firm last year.

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