Why this LA-based VC firm was an early investor in Slate Auto

Slate Auto, an electric vehicle (EV) startup that emerged from stealth mode earlier in 2023 with an affordable EV truck, has raised approximately $700 million to date. Prior to its public debut, Slate quietly secured a Series A funding round exceeding $100 million, which included high-profile investors such as Jeff Bezos, Los Angeles Dodgers owner Mark Walter, and VC firm General Catalyst. Among the early backers was Slauson & Co., a Los Angeles-based venture capital firm founded in 2020 by Ajay Relan and Austin Clements. The firm, which aims to bridge the gap between underrepresented communities and the innovation economy, publicly shared its rationale for investing in Slate, despite the challenging landscape for EV startups and green energy initiatives. Slauson & Co. was introduced to Slate Auto through Jeff Wilkie, former Amazon consumer division CEO and co-founder of Re:Build Manufacturing, an incubator from which Slate spun out. Although investing in an EV company was somewhat outside Slaus