Cathie Wood Backs New Mobility-Focused VC Fund

Techno-utopian Cathie Wood has become famous betting on the public markets. She’s also investing in private ones.

Wood is backing Santa Monica, California-based Up.Partners, a venture capital firm investing in mobility startups. Up plans to announce Monday it closed an inaugural fund of $230 million—raised from a group of investors that also includes Alaska Air Group Inc. and Woven Capital, a venture capital off-shoot of Toyota Motor Corp.’s subsidiary Woven Planet.