With a heritage of innovation, the Holt family has announced the formation of HOLT Ventures, an investment arm within HOLT CAT, which will invest in new technologies and companies focused on solving challenges in the industrial and manufacturing industries.
HOLT Ventures aims to provide funding, along with real world mentorship and guidance. The newly-minted organization is committed to helping companies fast-track growth and commercialize big ideas through access to the internal workings of the largest Caterpillar dealership in the nation and a deep-seated advisory committee that includes mentors from across the company.
“The Holt family's great success in the commercial dealership arena over the past 40 years is partially due to the company's values-based leadership platform,” said Charlie Strickland, HOLT Ventures managing director. “As a capital partner and advisor, HOLT Ventures is furthering the Holt family's legacy of fostering innovation by helping emerging companies and entrepreneurs in our industry.”
“As we enter a new phase in industrialization, HOLT Ventures will focus on solutions that drive efficiencies across our business and the services we provide. Companies that have a strong vision in developing efficient, innovative solutions, from process improvement to smart technologies, are what we are looking for,” said Peter John Holt, HOLT CAT executive vice president and general manager. “There is an opportunity to connect influencers from all subsets of construction and infrastructure, and to cultivate innovative ideas specific to the industries we serve.”
Peter John Holt and Corinna Holt Richter, current leaders of HOLT CAT, will serve as members of the HOLT Ventures Advisory Committee. They also represent the fifth generation of the Holt family business, which traces their heritage to Benjamin D. Holt, 1880's inventor of the first successful track-type tractor, widely known today as the “Caterpillar.”
In line with the company's strategic objectives and goals, 15 startups will be down-selected to showcase their potential to bring disruptive technology to the industrial space through a pitch competition at the South by Southwest Conference in Austin, Texas, in March 2017. HOLT Ventures has teamed up with Caterpillar Ventures, Brick & Mortar Ventures and Cottonwood Technology Fund to host the Industrial Technology Pitch Competition. The competition is divided into three separate 1-hour sessions, in which the winners will be awarded a cash prize and/or potential strategic partnership opportunity. There is a total cash payout of $50,000 across all three categories.
For more information, visit www.holtventures.com/sxsw.