Building Automotive Ventures from Scratch

Automotive Ventures didn’t start as a venture fund. It started as two operators trying to figure out how to help founders. In this first episode of Greenfield, Automotive Ventures General Partner Steve Greenfield and Venture Principal Justin Charbonneau unpack the unlikely path that led to building one of the most active seed-stage investment firms in mobility. From quitting stable corporate jobs and surviving failed startups to launching a venture fund in the middle of the COVID shutdown, they share the real story behind how Automotive Ventures came together. Along the way, they break down how venture capital actually works, why most startups fail, what red flags they look for when evaluating founders, and why the best entrepreneurs don’t need capital—they choose their investors. After reviewing thousands of startups and investing in more than 55 companies across three funds, Steve and Justin reveal the mindset, pattern recognition, and founder traits that drive the biggest outcomes in mobility. Takeaways: 0:00 Intro 0:40 Justin on the long road to entrepreneurship 4:31 The coffee meeting that triggered a resignation 5:46 Telling his parents after quitting in week one 8:20 Running out of runway and finding startup life 10:20 Building a startup in the wine industry 13:33 What failed founders learn that others miss 15:55 Winding down a startup in March 2020 18:15 From angel network research to launching a fund 21:34 Steve’s own founder journey and corporate reset 27:57 The $5,000 angel bet that changed everything 36:08 The karma bank and how Automotive Ventures helps founders 45:32 Red flags, return math, and why stage matters Connect with Steve Greenfield at:   / stevegreenfield416   Connect with Justin Charbonneau at:   / justincharbonneau   Learn more about Automotive Ventures at: https://www.automotiveventures.com/