The truck manufacturing industry in the US supports a vast network of companies that design, produce, and maintain trucks for diverse applications, including transport, construction, and waste management. Key players range from large manufacturers operating fleets of heavy-duty trucks to emerging startups focusing on electric and autonomous technologies. Recent trends highlight sustainability efforts, with advancements in fuel efficiency and alternative energy vehicles. As the industry evolves, automation and smart technologies, such as telematics and real-time logistics solutions, are set to redefine operational processes, offering enhanced efficiency and safety measures.


The following list features a variety of investment firms and organizations involved in the US truck manufacturing sector, headquartered in strategic locations such as New York, California, and Washington, D.C. These investors—including traditional venture capital entities and public corporations—each bring unique investment sizes and expertise to the table. In 2024 alone, they completed numerous transactions showcasing their commitment to financing innovations in this crucial industry sector. Whether through early-stage funding or substantial equity investments, these players significantly impact the future of truck manufacturing.


Top 17 Truck 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, located in Washington, D.C. It is responsible for overseeing national energy policy, energy production, and nuclear power research. The DOE 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 truck manufacturing, the DOE has been involved in several significant transactions, providing grants to companies such as Nikola Motor Company, which raised $1.7 million in 2019, and Cummins, which received $75 million in 2024 and an additional $5 million in 2021. These investments highlight the DOE's commitment to supporting innovation and development in the truck manufacturing sector, particularly in relation to energy-efficient and sustainable technologies.


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 specializes in providing funding and mentorship to early-stage technology companies through a structured program that includes resources like the Startup School and co-founder matching services. Over the years, Y Combinator has successfully launched more than 4,000 startups, making it a key player in the technology startup ecosystem. Among its notable transactions, Y Combinator has invested in companies such as Open Motors, which raised $120,000 in a Seed Round in 2016, and Olympian Motors, which secured funding in a Pre-Seed Round in 2022. These investments highlight Y Combinator's engagement with companies that are innovating in the vehicle manufacturing space, particularly in the context of trucks and transportation.


3. Plug and Play Tech Center


Plug and Play Tech Center is an innovation hub and venture capital firm based in Sunnyvale, California, founded in 2006. They connect startups with corporations to foster growth and innovation, offering various programs including accelerator initiatives and investment opportunities primarily in the technology sector. Notably, they have been involved in significant transactions within the truck manufacturing context, particularly with Einride, a Swedish startup developing autonomous trucks. Plug and Play participated in multiple funding rounds for Einride, including a Series A round of $25 million in 2019, a Series B round of $110 million in 2021, and additional funding in 2022 and 2023. This involvement highlights their commitment to supporting advancements in the truck manufacturing industry, especially in the realm of autonomous vehicle technology.


4. 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, with a focus on supporting entrepreneurs in underserved communities. Their investment strategy includes flexible capital solutions aimed at helping businesses grow and thrive. Notably, Advantage Capital has been involved in multiple transactions with E-Z Pack, a manufacturer of refuse collection vehicles, including Series A and Series C funding rounds, as well as several debt financing transactions. These investments highlight their engagement in the truck manufacturing industry, particularly in supporting companies that produce essential vehicles for waste management and related services.


5. Deep Tech Fund (an Alumni Ventures Fund)

  • Website: av.vc
  • Type: Venture Capital
  • Headquarters: Manchester, New Hampshire, United States (USA)
  • Founded year: 2023
  • Headcount: 51-200
  • Number of deals in 2024: 258
  • LinkedIn: deep-tech-fund-av-focused-fund

The Deep Tech Fund (an Alumni Ventures Fund) is a venture capital firm founded in 2023, based in Manchester, New Hampshire. It provides accredited investors and institutions with access to professionally-managed, diversified venture portfolios, leveraging a network of over 10,000 investors to connect them with high-quality investment opportunities in the startup ecosystem. Notably, the fund has been involved in several significant transactions, including a $14.4 million Series A funding round for Intramotev, which focuses on innovative transportation solutions, and multiple funding rounds for Lightship, a company that has raised substantial capital for its operations. These transactions highlight the fund's engagement in sectors that intersect with truck manufacturing, making it a relevant player in this space.


6. 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 the context of truck manufacturing, the Government of Canada has been involved in several significant transactions, including grants to NFI Group totaling approximately $10.8 million in 2024, and substantial funding to Ford Motor Company, including a $590 million grant in 2020 and $235.6 million in debt financing in 2021. Additionally, the government provided a $5 million grant to Soucy in 2024, further demonstrating its engagement in supporting companies within the truck manufacturing sector.


7. Intel Capital

  • Website: intelcapital.com
  • Type: Venture Capital
  • Headquarters: Santa Clara, California, United States (USA)
  • Founded year: 1991
  • Headcount: 11-50
  • Number of deals in 2024: 23
  • LinkedIn: intelcapital

Intel Capital is a venture capital firm based in Santa Clara, California, founded in 1991. It specializes in investing in early-stage technology companies, with a focus on areas such as AI, cloud computing, and semiconductor technologies. In addition to its core focus, Intel Capital has made strategic investments in companies that intersect with the truck manufacturing industry. Notably, it invested in Peloton Technology, which is developing the world’s first commercial two-truck driver-assistive platooning system. This investment supports Peloton's growth plans and its collaboration with major OEMs, including Volvo Trucks North America. Furthermore, Intel Capital's investment in Perrone Robotics highlights its interest in robotics software that could potentially enhance automation in the trucking sector. These transactions illustrate Intel Capital's commitment to fostering innovation that can impact the truck manufacturing industry.


8. 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 driving long-term value for institutional investors, Carlyle has made significant investments across various sectors. Notably, they acquired Allison Transmission Holdings in 2007 for $5.575 billion, a key player in the production of automatic transmissions and hybrid systems essential for trucks. In 2017, Carlyle also acquired United Road Services, a leading vehicle transport and logistics provider, further solidifying their involvement in the automotive sector. Additionally, their investment in AGILOX, which specializes in AI-based logistics solutions, showcases their interest in innovative technologies that can impact the logistics and transportation industries. These transactions highlight Carlyle's strategic positioning within the truck manufacturing and related sectors.


9. Qualcomm Ventures

  • Website: qualcommventures.com
  • Type: Venture Capital
  • Headquarters: San Diego, California, United States (USA)
  • Founded year: 2000
  • Headcount: 10001+
  • Number of deals in 2024: 18
  • LinkedIn: qualcomm-ventures

Qualcomm Ventures is a venture capital firm based in San Diego, California, founded in 2000. The firm specializes in investing in early to growth stage technology companies, particularly within the wireless ecosystem. They provide capital and strategic support to startups across various sectors, including automotive, digital health, and IoT. Notably, Qualcomm Ventures has made significant investments in companies that are relevant to the truck manufacturing context, such as Haomo.AI, a Chinese autonomous driving startup, which raised $157 million with Qualcomm's participation. Additionally, they invested in Third Wave Automation, which raised $70 million to develop automation solutions that could be applied in logistics and truck operations. These transactions highlight Qualcomm Ventures' commitment to advancing technologies that could impact the truck manufacturing industry.


10. 500 Global

  • Website: 500.co
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2010
  • Headcount: 201-500
  • Number of deals in 2024: 98
  • LinkedIn: 500-startups

500 Global is a venture capital firm and startup accelerator based in San Francisco, California, founded in 2010. The firm specializes in investing in early-stage technology companies, providing funding, mentorship, and resources to help founders scale their businesses. In 2022, 500 Global made a notable investment in TRUKTOP, a company that operates within the truck manufacturing sector, highlighting their engagement in this industry. Additionally, they have participated in various seed rounds for other startups, showcasing their commitment to supporting innovative companies across different sectors, including those related to transportation and logistics.


11. Apollo Global Management, Inc.

  • Website: apollo.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1990
  • Headcount: 1001-5000
  • Number of deals in 2024: 46
  • LinkedIn: apollo-global-management-inc

Apollo Global Management, Inc. is a prominent asset management firm based in New York, specializing in alternative assets and retirement solutions. Founded in 1990, the firm manages a diverse portfolio across credit, private equity, and real assets, catering to institutional investors, corporations, and individual clients. Notably, Apollo has made significant investments in the transportation sector, including the acquisition of Direct ChassisLink for $2.5 billion in 2019, which is integral to the logistics and trucking industry. Additionally, their recent funding rounds for WattEV, a company focused on electric vehicle infrastructure, highlight their commitment to innovative solutions in transportation. Furthermore, their acquisition of Vredestein Banden, a tire manufacturer, also connects to the broader automotive and truck manufacturing ecosystem, showcasing their strategic interest in sectors that support truck manufacturing and logistics.


12. 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 focuses on providing capital and strategic guidance to startups across various industries, including e-commerce and logistics. Notably, they have invested in TruckSmarter, a company that raised $25 million in a Series B funding round to enhance its driver ecosystem, indicating their engagement in the logistics and transportation sector. Additionally, they participated in a previous funding round for TruckSmarter, further solidifying their interest in the truck-related market.


13. 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, dedicated to fostering private sector development in emerging markets. Based in Washington, D.C., IFC provides investment, advisory, and asset management services to businesses and financial institutions, helping them access capital and expertise to promote economic growth. IFC operates in over 100 countries, addressing poverty and promoting sustainable development. Notably, IFC has made significant investments in the automotive sector, including Mahindra Last Mile Mobility, which raised $36.35 million in 2023, and JK Tyre & Industries, which raised $30 million in post-IPO debt in 2025 and $29.08 million in post-IPO equity in 2023. These transactions highlight IFC's involvement in companies that contribute to the truck manufacturing supply chain, particularly in tire production, which is essential for truck operations.


14. Morgan Stanley

  • Website: morganstanley.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1986
  • Headcount: 10001+
  • Number of deals in 2024: 79
  • LinkedIn: morgan-stanley

Morgan Stanley is a prominent investment bank and financial services firm founded in 1986, headquartered in New York, New York. The firm offers a wide range of services, including wealth management, investment banking, and capital markets, catering to individuals, families, corporations, and governments. With a global presence and a workforce exceeding 10,000 employees, Morgan Stanley leverages its expertise to provide tailored financial solutions. In 2024, Morgan Stanley has been actively involved in various transactions, including a significant investment in Jupiter Wagons, which raised approximately $95.8 million in post-IPO equity, indicating their interest in the manufacturing sector. Additionally, their acquisition of a substantial stake in VTG Aktiengesellschaft, a company focused on rail logistics and wagon hire, highlights their strategic positioning within the transportation industry. These transactions reflect Morgan Stanley's commitment to investing in sectors that are closely related to truck manufacturing and logistics, making them a relevant player in this space.


15. Oshkosh Corporation

  • Website: oshkoshcorp.com
  • Type: Corporate
  • Headquarters: Oshkosh, Wisconsin, United States (USA)
  • Founded year: 1917
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: oshkosh-corporation

Oshkosh Corporation is a prominent vehicle manufacturer based in Oshkosh, Wisconsin, specializing in the design and production of specialty trucks, military vehicles, and access equipment. Founded in 1917, the company serves both government and commercial customers, providing innovative solutions for challenging operational environments. With a workforce of approximately 15,000 employees, Oshkosh operates globally and is committed to advanced technology and community engagement. Notably, Oshkosh has made significant acquisitions in the truck manufacturing sector, including the acquisition of Jerr-Dan Corporation in 2004 for $80 million, which bolstered its position in specialty truck manufacturing. Additionally, the acquisition of Pierce Manufacturing in 1996 further solidified its presence in the fire and emergency vehicle market. These strategic moves highlight Oshkosh's dedication to expanding its capabilities in truck manufacturing, making it a key player in the industry.


16. Warburg Pincus LLC

  • Website: warburgpincus.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1966
  • Headcount: 501-1000
  • Number of deals in 2024: 24
  • LinkedIn: warburg-pincus

Warburg Pincus LLC is a leading global private equity firm specializing in growth investments, founded in 1966 and based in New York, New York. With over $83 billion in assets under management, the firm partners with management teams across various sectors, including healthcare, technology, and financial services. Notably, Warburg Pincus has made significant investments in the automotive sector, particularly in companies related to truck manufacturing. For instance, they acquired a majority stake in Imperial Auto Industries, which is focused on expanding its capacity and developing electric vehicle-related products, indicating a strategic interest in the automotive and truck manufacturing space. Additionally, their investment in Tata Technologies, which is closely linked to Tata Motors, further emphasizes their involvement in the automotive industry. These transactions highlight Warburg Pincus's commitment to supporting growth in sectors that include truck manufacturing, making them a notable player in this field.


17. American Industrial Partners


American Industrial Partners is a private equity firm based in New York, specializing in operationally-oriented investments in industrial businesses. Founded in 2005, AIP focuses on enhancing the performance of its portfolio companies through strategic financial support and operational improvements. Notably, AIP has made significant acquisitions in the truck manufacturing sector, including Manac, a leading manufacturer of trailers, and Heil Trailer International, known for its production of specialized trailers. Additionally, AIP acquired EnTrans International, which is involved in the manufacturing of truck bodies and trailers. These transactions highlight AIP's commitment to investing in and improving companies within the truck manufacturing industry, making them a key player in this sector.



Truck 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
Plug and Play Tech CenterSunnyvale, California, United States (USA)501-10002006253
Advantage CapitalNew Orleans, Louisiana, United States (USA)51-20019925
Deep Tech Fund (an Alumni Ventures Fund)Manchester, New Hampshire, United States (USA)51-2002023258
Government of CanadaCanada, Kentucky, United States (USA)10001+1999137
Intel CapitalSanta Clara, California, United States (USA)11-50199123
The Carlyle GroupWashington, D.C., District Of Columbia, United States (USA)1001-5000198725
Qualcomm VenturesSan Diego, California, United States (USA)10001+200018
500 GlobalSan Francisco, California, United States (USA)201-500201098
Apollo Global Management, Inc.New York, New York, United States (USA)1001-5000199046
FJ LabsNew York, New York, United States (USA)11-502015169
IFC - International Finance CorporationWashington, D.C., District Of Columbia, United States (USA)1001-50001956107
Morgan StanleyNew York, New York, United States (USA)10001+198679
Oshkosh CorporationOshkosh, Wisconsin, United States (USA)10001+19173
Warburg Pincus LLCNew York, New York, United States (USA)501-1000196624
American Industrial PartnersNew York, New York, United States (USA)51-20020058


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