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Investment firm launching $1B fund to help suppliers shift to EVs
- Monroe Capital is launching a $1 billion fund called "Drive Forward Fund LP" to support small and medium-sized companies transitioning to electric vehicles, as announced on Monday.
- The fund aims to improve access to capital for auto manufacturers investing in electric vehicle production, backed by the Biden Administration.
- The initiative will provide funding for essential parts, technology investments, and services crucial for the transition to electric vehicles.
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U.S. Administration Backs $1-Billion Fund for Small Automakers Investing in EVs
The Biden Administration is backing a $1-billion fund created by asset management firm Monroe Capital LLC to facilitate access to lower-cost capital for small- and medium-sized auto manufacturers planning to invest in transitioning to electric vehicle (EV) manufacturing. The White House has selected Monroe Capital to develop a first-of-its-kind investment strategy focused on supporting businesses operating in the U.S. automotive supply chain, th…
·London, United Kingdom
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Coverage Details
Total News Sources6
Leaning Left2Leaning Right1Center2Last UpdatedBias Distribution40% Left, 40% Center
Bias Distribution
- 40% of the sources lean Left, 40% of the sources are Center
40% Center
L 40%
C 40%
R 20%
Factuality
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