JetBlue sells venture capital unit to SKY
JetBlue Airways has sold its venture capital subsidiary JetBlue Ventures to aviation investment management firm SKY Leasing.
It says the transaction will usher in the next era of growth for JetBlue Ventures, with expanded opportunities to support founders and scale up game-changing technologies thanks to SKY’s access to capital.
JetBlue will continue to serve as a strategic partner to JetBlue Ventures and its investment portfolio companies.
“We are thrilled to welcome JetBlue Ventures into the SKY family,” said Matthew Crawford, Co-Chief Investment Officer at SKY.
“Through our aviation partnerships around the world, we are witnessing firsthand the rapid advancements and innovations in the travel industry.”
“We founded JetBlue Ventures to invest in, incubate, and partner with early-stage startups that would shape the future of travel,” said Joanna Geraghty, CEO, JetBlue.
“This transaction enables us to focus on our core airline operations, while maintaining our access to these innovations and opportunities.”
Since its founding in 2016, JetBlue Ventures has invested in 55 early-stage startups and made over 40 follow-on investments.
It resulted in eight exits in the form of acquisitions and public offerings.
The JetBlue Ventures team, which will continue to be led by Amy Burr, will remain focused on investing in emerging enterprise technology across the travel and transportation ecosystem.
JetBlue Ventures will continue to manage all current and future investments, with JetBlue continuing to hold positions in all existing portfolio companies.
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