David speaks with Chase Fraser , the founding partner of Fraser McCombs live from NADA in Dallas.
The episode is focused on how Fraser McCombs has created a number of funds to allow dealer partners and industry leaders to participate in innovation and technology advancements within the industry. Fraser McCombs is on its third fund, with 80% of its LPs being automotive entities, including 31 dealer groups. These dealer groups are looking to be preemptive in the face of inevitable change by investing early in tech startups to stay ahead of the curve.
Fraser highlights the importance of being an early adopter of new technology in the automotive industry. Many dealers have seen companies like DealerTrack come from nothing to become some of the biggest names in the industry. By investing in new tech, dealers are participating in the growth of companies and solutions that they helped build and allows them to be preemptive and not get disrupted. Fraser emphasizes the importance of testing new products and solutions in dealerships before investing large amounts of money in them.
By investing alongside startups, dealer groups can not only have early access to the technology that will disrupt the industry, but they can also help shape and guide the growth of these companies. This approach is not just about investing money, but also investing in the success story of these companies. Fraser McCombs has seen the benefits of investing in startups that have grown into some of the most successful companies in the industry, and they continue to look for new opportunities to invest preemptively in the technology that will shape the future of automotive sales.
Fraser McCombs has raised three funds and is currently raising a fourth fund. The company helps to show dealer groups what’s around the corner in the industry, as many groups are looking to avoid getting disrupted.
The conversation wrapped up with the idea that investing in tech startups is a way for dealer groups to participate in the growth and success of the companies they invest in, and to avoid being disrupted by new tech down the road.
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