The commercial bus manufacturing industry in the US focuses on designing and producing buses used for public transportation, school services, and various shuttles. Key players range from large corporations like Blue Bird Corporation to innovative startups specializing in electric bus technology. This sector is rapidly evolving, pivoting towards sustainability with a strong emphasis on electric and hybrid vehicles to reduce emissions and energy costs. With urban transport demands increasing and infrastructure investments growing, the future looks bright. Engaging initiatives like federal grants are further fueling innovation and efficiency within the industry, promising exciting advancements ahead.


The highlighted investors in this list cover various types, from corporate giants to venture capital firms, with headquarters spanning from New York to San Francisco. Most have been in operation for decades, reflecting a stable industry presence. In 2024 alone, these investors made significant contributions, as evidenced by the over 1,100 collective deals aimed at enhancing the commercial bus manufacturing space. This includes government bodies providing essential funding, as well as private equity firms supporting traditional and innovative bus solutions. Their varied portfolios highlight a keen interest in the industry's growth.


Top 13 Commercial Bus Manufacturing Investors in the US


1. U.S. Department of Energy (DOE)

  • Website: energy.gov
  • Type: Corporate
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1977
  • Headcount: 10001+
  • Number of deals in 2024: 597
  • LinkedIn: u-s--department-of-energy

The U.S. Department of Energy (DOE) is a public entity established in 1977, responsible for overseeing national energy policy, energy production, and nuclear power research. It serves various stakeholders, including government entities and the public, by providing guidance on energy efficiency, funding opportunities, and conducting research to address energy challenges. In the context of commercial bus manufacturing, the DOE has been actively involved in funding initiatives that support the development of energy-efficient buses. Notably, the DOE provided an $80 million grant to Blue Bird Corporation in July 2024 and a $4.4 million grant in January 2017, both aimed at enhancing the production of energy-efficient buses. Additionally, the DOE awarded a $1.6 million grant to Wabash National in October 2024 and a $1.7 million grant to Nikola Motor Company in August 2019, further demonstrating its commitment to supporting innovation in the commercial bus sector. These transactions highlight the DOE's role as a significant investor in the commercial bus manufacturing industry, particularly in promoting sustainable transportation solutions.


2. Y Combinator

  • Website: ycombinator.com
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2005
  • Headcount: 51-200
  • Number of deals in 2024: 802
  • LinkedIn: y-combinator

Y Combinator is a prominent startup accelerator and venture capital firm based in San Francisco, California, founded in 2005. It provides funding and mentorship to early-stage technology companies, helping entrepreneurs launch and grow their businesses through structured programs and resources like the Startup School. Y Combinator has successfully launched over 4,000 startups, making it a key player in the technology startup ecosystem. Among its notable transactions, Y Combinator has invested in Bus.com, a Montreal-based online platform for bus rentals, participating in multiple funding rounds including a Seed round in 2016, a Series A round in 2017, and a Series B round in 2019. These investments highlight Y Combinator's engagement with the transportation sector, particularly in technology-driven solutions for bus services, which aligns with the commercial bus manufacturing industry.


3. Advantage Capital


Advantage Capital is a venture capital firm based in New Orleans, Louisiana, founded in 1992. The firm specializes in providing equity and debt financing to small businesses, particularly in underserved communities. Their investment strategy includes flexible capital solutions aimed at helping entrepreneurs grow and thrive. Advantage Capital has been involved in various transactions, including notable investments in Craftsmen Industries, which is relevant to the manufacturing sector, and E-Z Pack, a company that operates in the waste management and refuse collection industry. Their recent transactions also include Intramotev, which raised $14.4 million in Series A funding, indicating their active role in supporting innovative companies. While their focus is diverse, their involvement in manufacturing-related investments suggests a potential interest in the commercial bus manufacturing sector.


4. Wabtec Corporation

  • Website: wabteccorp.com
  • Type: Corporate
  • Headquarters: Pittsburgh, Pennsylvania, United States (USA)
  • Founded year: 1869
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: wabtec-corporation

Wabtec Corporation, founded in 1869 and based in Pittsburgh, Pennsylvania, is a leading transportation equipment manufacturer that provides a diverse range of products and services for the rail, transit, mining, and marine industries. The company is dedicated to enhancing safety, efficiency, and productivity through innovative solutions and advanced technologies. Notably, Wabtec has made strategic acquisitions to bolster its position in the transit sector, including the acquisition of Tec Tran Corp., the only U.S.-owned manufacturer of hydraulic braking systems for transit cars, which enhances their offerings in the transit market. Additionally, their acquisition of Faiveley Transport for $1.8 billion further solidifies their commitment to the transit industry, as Faiveley is known for its products that serve both rail and bus markets. These transactions reflect Wabtec's strategic focus on expanding its capabilities in transit solutions, making it a relevant investor in the commercial bus manufacturing space.


5. Government of Canada

  • Website: canada.ca
  • Type: Corporate
  • Headquarters: Canada, Kentucky, United States (USA)
  • Founded year: 1999
  • Headcount: 10001+
  • Number of deals in 2024: 137
  • LinkedIn: government-of-canada

The Government of Canada is a public entity that provides a wide range of services and information to Canadian citizens and residents, addressing various needs including employment, immigration, health care, and taxation. Founded in 1999, it operates through multiple departments and agencies to ensure access to essential services and support for individuals and businesses across the country. In recent years, the Government of Canada has been involved in significant transactions within the commercial bus manufacturing context, such as providing a grant of approximately $10.8 million to NFI Group on October 25, 2024, which is a leading manufacturer of buses. Additionally, it has supported other companies like Loop Energy with a grant of about $7.6 million in 2022, further demonstrating its commitment to fostering innovation and growth in the transportation sector, including commercial bus manufacturing.


6. Kkr

  • Website: kkr.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1976
  • Headcount: 1001-5000
  • Number of deals in 2024: 74
  • LinkedIn: kkr

KKR & Co. Inc. is a prominent investment firm based in New York, specializing in private equity, credit, infrastructure, and real estate. Founded in 1976, KKR has established itself as a global leader in asset management, providing tailored investment solutions to institutional and individual clients. Among its notable transactions, KKR's acquisition of Ritchies Transport in 2021 marked its entry into the commercial bus sector, highlighting its commitment to infrastructure investments in transportation. Additionally, KKR's acquisition of Dawsongroup, an independent asset leasing business, aligns with its Global Climate strategy, which may include sustainable transportation solutions. These transactions reflect KKR's strategic approach to diversifying its portfolio while actively participating in the commercial bus manufacturing and transportation industry.


7. The Carlyle Group

  • Website: carlyle.com
  • Type: Private Equity
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1987
  • Headcount: 1001-5000
  • Number of deals in 2024: 25
  • LinkedIn: the-carlyle-group

The Carlyle Group Inc. is a prominent investment management firm founded in 1987, specializing in private equity, real assets, and private credit. With a global presence and a focus on delivering tailored investment solutions to institutional investors, Carlyle has built a diverse portfolio. Notably, they acquired Allison Transmission Holdings in 2007 for $5.575 billion, a company that plays a significant role in the commercial vehicle sector by providing automatic transmissions and hybrid propulsion systems. This acquisition highlights Carlyle's strategic interest in the transportation industry. Additionally, their investment in United Road Services, a leading vehicle transport and logistics provider, further emphasizes their engagement in sectors related to vehicle manufacturing and transportation. While Carlyle's investments span various industries, their activities in transportation-related companies suggest a potential alignment with the commercial bus manufacturing sector.


8. IFC - International Finance Corporation

  • Website: ifc.org
  • Type: Venture Capital
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1956
  • Headcount: 1001-5000
  • Number of deals in 2024: 107
  • LinkedIn: ifclinkedin

The International Finance Corporation (IFC) is a not-for-profit organization established in 1956, headquartered in Washington, D.C. It focuses on private sector development in emerging markets by providing investment, advisory, and asset management services to businesses and financial institutions. IFC aims to help these entities access capital and expertise to promote economic growth and alleviate poverty. Among its notable transactions, IFC has invested in Mahindra Last Mile Mobility, which raised approximately $36.4 million in a venture round in March 2023, indicating its interest in innovative transportation solutions. Additionally, it has supported Lithium Urban Technologies with an $8 million investment in April 2018, which is relevant to the electric vehicle sector. These transactions highlight IFC's commitment to fostering sustainable development in the transportation industry, including commercial bus manufacturing.


9. FJ Labs

  • Website: fjlabs.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 169
  • LinkedIn: fj-labs

FJ Labs is a venture capital firm based in New York, specializing in investing in marketplace and network effect businesses. Founded in 2015, the firm has made over 1,000 investments, many of which have achieved unicorn status. FJ Labs supports entrepreneurs by providing capital and strategic guidance across various industries, including e-commerce and logistics. Notably, they have invested in Bus.com, a transportation technology company that raised $5 million in Series A funding, indicating their interest in the bus sector. Additionally, they invested in Busbud, which raised $11,206,868 in Series C funding, further emphasizing their engagement in the commercial bus market. These transactions highlight FJ Labs' involvement in the transportation industry, particularly in areas related to bus services.


10. Elemental Impact


Elemental Impact is a not-for-profit organization based in Honolulu, Hawaii, founded in 2012. The organization is dedicated to scaling climate technologies with a strong emphasis on community impact. They provide funding opportunities, community engagement strategies, and educational resources to support climate technology companies and local governments in deploying sustainable solutions. Notably, Elemental Impact has been involved in several transactions relevant to the commercial bus manufacturing sector, including investments in Proterra, a leader in electric bus manufacturing, and Xos Trucks, which focuses on electric vehicle solutions for commercial applications. These transactions highlight Elemental Impact's commitment to fostering sustainable transportation solutions and addressing the funding gap for early-stage climate projects.


11. BMW i Ventures

  • Website: bmwiventures.com
  • Type: Venture Capital
  • Headquarters: Mountain View, California, United States (USA)
  • Founded year: 2011
  • Headcount: 11-50
  • Number of deals in 2024: 12
  • LinkedIn: bmw-i-ventures

BMW i Ventures is a venture capital firm founded in 2011, located in Mountain View, California. The firm specializes in investing in early-stage companies within the automotive and technology sectors, providing funding, strategic partnerships, and access to the extensive BMW ecosystem to help startups innovate and grow. Their investment portfolio includes significant transactions in the commercial bus manufacturing context, such as Proterra, which raised $55 million in Series F funding in 2017 and $30 million in Series A funding in 2011, focusing on electric bus technology. Additionally, they invested in Bus.com, a transportation technology company that raised $5 million in Series A funding in 2017 and $19.6 million CAD in Series B funding in 2019, which indicates their interest in the bus rental and transportation sector.


12. KPS Capital Partners

  • Website: kpsfund.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1991
  • Headcount: 51-200
  • Number of deals in 2024: 5
  • LinkedIn: kps-capital-partners

KPS Capital Partners is a private equity firm based in New York, specializing in investments in manufacturing and industrial companies. Founded in 1991, KPS focuses on enhancing the competitiveness and profitability of its portfolio through strategic investments and operational improvements. They have a diverse range of clients in various manufacturing sectors seeking capital and expertise to grow and modernize their operations. Notably, KPS has made significant investments in the commercial bus manufacturing industry, including the acquisition of Motor Coach Industries in 2010 and their involvement with New Flyer Industries in 2002. These transactions highlight KPS's commitment to the bus manufacturing sector, demonstrating their capability and interest in supporting companies that produce commercial buses.


13. Trucks Venture Capital

  • Website: trucks.vc
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2015
  • Headcount: 1-10
  • Number of deals in 2024: 7
  • LinkedIn: trucks-vc

Trucks Venture Capital is a venture capital firm based in San Francisco, California, founded in 2015. The firm specializes in funding innovative startups within the transportation sector, with a mission to support early-stage companies that aim to create safer, more accessible, and decarbonized transportation solutions. Notably, Trucks VC has invested in BasiGo, which raised $24 million in a Series A round in October 2024, and previously secured $6.6 million in funding to support the commercial delivery of locally manufactured electric buses in Kenya. This involvement highlights their commitment to advancing the commercial bus manufacturing industry, particularly in the electric vehicle segment. Additionally, Trucks VC has participated in other transactions, but their engagement with BasiGo is particularly relevant to the commercial bus manufacturing context.



Commercial Bus Manufacturing Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
U.S. Department of Energy (DOE)Washington, D.C., District Of Columbia, United States (USA)10001+1977597
Y CombinatorSan Francisco, California, United States (USA)51-2002005802
Advantage CapitalNew Orleans, Louisiana, United States (USA)51-20019925
Wabtec CorporationPittsburgh, Pennsylvania, United States (USA)10001+18693
Government of CanadaCanada, Kentucky, United States (USA)10001+1999137
KkrNew York, New York, United States (USA)1001-5000197674
The Carlyle GroupWashington, D.C., District Of Columbia, United States (USA)1001-5000198725
IFC - International Finance CorporationWashington, D.C., District Of Columbia, United States (USA)1001-50001956107
FJ LabsNew York, New York, United States (USA)11-502015169
Elemental ImpactHonolulu, Hawaii, United States (USA)51-200201219
BMW i VenturesMountain View, California, United States (USA)11-50201112
KPS Capital PartnersNew York, New York, United States (USA)51-20019915
Trucks Venture CapitalSan Francisco, California, United States (USA)1-1020157


Want to find more investors focusing on the commercial bus manufacturing industry?

If you want to find more investors that are active in the commercial bus manufacturingindustry, you can do that with Inven. We built this list and analysis throughInven's Investor Search, and there are a lot more private equity, venturecapital, and corporate investors like these globally.

With Inven, you'll also get to know:

  • Deal History: Number of deals and their sizes.
  • Portfolio: Companies they've invested in.
  • Contact data: Key dealmakers, including their emails and phonenumbers.
  • ...and much more!