In 2012 Vélo Capital Partners (VCP) was formed with the goal of establishing the world's first early and expansion stage venture capital fund for investing in the next generation of innovation in the global cycling industry with a total fund size of $150.0 million.
While a considerable amount of interest was generated over the next few years from potential
institutional investors we were still just a first-time fund in a first-time industry with a first-time team. As a result, investors really wanted to see VCP prove that venture capital type returns could be achieved by investing in the sector. To do this we decided to raise a smaller amount of funding in 2014 to capitalize on what we found from our analysis as the most significant opportunity in the global cycling industry - SOLVING CYCLING 4.0'S PROBLEMS WITH PROGRAMMABLE INTELLIGENT SOLUTIONS.
Then, we formed véliSo in 2015 as a spin out company to focus on solving a specific set of specific problems within CYCLING 4.0 with programmable intelligent solutions.