Why Slauson & Co. Invested Early in Slate Auto's $700M EV Journey
In an industry where many electric vehicle startups have faltered, one firm saw potential early. Slauson & Co. investment in Slate Auto may have seemed bold in 2023, but it’s proving to be a prescient bet. The LA-based venture capital firm participated in a quiet $100 million Series A round well before Slate Auto went public with its customizable, affordable electric truck. Since then, the EV startup has raised a staggering $700 million in total. With tech titans like Jeff Bezos on board, the spotlight is now on the investors who took the initial risk. So, why did Slauson & Co.—a relatively young firm—place an early bet on a company in a notoriously volatile space?
Image Credits:Slate Auto
Backing Vision Over Trends: Slauson & Co.’s Belief in Slate Auto
Slauson & Co., co-founded by Ajay Relan and Austin Clements in 2020, has never been a firm that follows the herd. Their decision to fund Slate Auto early wasn't about chasing market hype. It was rooted in a deep belief in the startup’s core mission: to offer affordable, reliable, and customizable electric vehicles that are made in America. In an exclusive interview, Relan explained that the firm was acutely aware of the challenges in the EV sector, especially amid a backdrop of high-profile bankruptcies and shifting U.S. political sentiment against green energy. Yet, the founding partners believed Slate Auto had something most startups didn’t—vision backed by real manufacturing execution.
This wasn’t just about a sleek truck or buzzwords like “electric” or “modular.” Slate Auto’s pitch was about long-term mobility access for underserved markets, something that aligned closely with Slauson & Co.'s own mission of bridging gaps in the innovation economy. Their conviction went beyond data—it reflected their own lived experience and desire to back companies that offer more than just financial returns.
The Cultural and Strategic Roots of Slauson & Co.
What makes Slauson & Co. investment in Slate Auto particularly compelling is the story behind the firm itself. Relan and Clements aren’t your typical Silicon Valley VCs. They grew up off Slauson Avenue in South Central Los Angeles, a neighborhood rarely associated with venture capital. But it’s this very background that informs their investment strategy. “South Central is a source of cultural capital that gets repackaged and monetized elsewhere,” Relan shared. By funding companies like Slate Auto, the firm hopes to redistribute opportunities to communities and founders historically excluded from tech’s growth.
Their portfolio isn’t just about high returns—it’s about high impact. Slauson & Co. focuses on investing in underrepresented entrepreneurs and companies building practical, scalable solutions for overlooked markets. Backing Slate Auto was not only a financial decision, but a strategic alignment with their values. Slate’s domestic manufacturing, inclusive product design, and realistic pricing made it an ideal candidate for their thesis.
Navigating a Volatile EV Market with a Long-Term View
The electric vehicle space has had its fair share of failures. From production delays to regulatory hurdles, the path to success is narrow. That didn’t deter Slauson & Co. investment in Slate Auto—instead, it clarified the opportunity. Relan and Clements understood that while the market was tough, the need for accessible, customizable EVs remained underserved. And unlike many flashy EV startups with billion-dollar valuations and no actual vehicles, Slate Auto came to the table with a working prototype and a lean, practical go-to-market strategy.
Slauson & Co.’s investment reflects a forward-thinking model for venture capital—one that values grit, inclusivity, and mission-driven execution. As Slate Auto continues to grow, backed by $700 million in funding and growing public interest, it’s clear that early believers like Slauson & Co. played a pivotal role in shaping the future of electric mobility in America.
The story of Slauson & Co. investment in Slate Auto isn’t just about money—it’s about representation, long-term thinking, and strategic risk. In a time when the EV sector faces skepticism, Slauson & Co. doubled down on a startup that aligned with both their values and vision. And now, with Slate Auto gaining momentum, that early conviction is paying off—not just in returns, but in the broader narrative of what venture capital can and should support. As Slate Auto continues its climb, expect Slauson & Co. to remain at the forefront of investing in the overlooked, the underestimated, and the ready-to-build.
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