BMW i Ventures Launches $300M Fund III Targeting Agentic AI and Physical AI Startups

BMW i Ventures launched its third fund at $300 million, bringing total capital under management to $1.1 billion. The fully BMW Group-backed fund will invest from Seed through Series B in North America and Europe, focusing on agentic AI, physical AI (robotics and autonomous vehicles), industrial software, advanced materials, and manufacturing/supply chain technologies. Managing partner Marcus Behrendt stated the firm already quietly backed five unnamed AI startups through Fund II. The fund plans to increase seed-stage investments due to rapidly rising AI valuations.