Bill Ford has teamed with two former Ford Motor employees and others to form a venture capital firm focused on innovative technologies for the transportation industry.
Fontinalis Partners announced its launch and its first investment Friday. The Detroit-based firm, which has an office in Boston, plans to invest in companies "trying to solve the world's most pressing environmental and mobility-oriented problems."
It said Friday that it has invested an undisclosed amount in Atlanta-based Parkmobile USA and its parent company.
Parkmobile provides systems that allow drivers to pay for parking using their cell phones.
Mark Schulz, one of Fontinalis' founding partners and a former president of Ford's international operations, was named Parkmobile's chairman.
Fontinalis did not return telephone calls seeking comment Friday. Bill Ford, Ford's executive chairman, was not available to discuss his new venture.
Besides Ford and Schulz, Fontinalis' founding partners include investment professionals Ralph Booth, Chris Cheever and Chris Thomas, a former Ford employee who worked in the automaker's sustainable business development and treasury departments.
Fontinalis said it is not affiliated with Ford Motor. Mark Truby, a spokesman for the automaker, said Bill Ford informed the company's board about Fontinalis.
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