GM is launching General Motors Ventures with $100 million. The doors on GM Ventures are set to open on July 1st, which will put GM ahead of its counterparts in establishing a venture division specifically to target new technologies (electric power, entertainment, consumer integrations, biofuels, etc.).
This could be a great move for GM and for the other auto companies that follow. Major IT companies and Fuel companies took a similar approach years ago to accelerate technologies that complement their core business. IBM started IBM Venture Capital Group, Intel started Intel Capital and Shell started Shell Technology Ventures Fund.