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Foxx joins VC firm Autotech Ventures

Former Transportation secretary Anthony Foxx (on right) briefs reporters in May 2014. Photo: Chip Somodevilla/Getty Images

Anthony Foxx, who served as secretary of the Transportation Department in the Obama administration from 2013 to 2017, has joined venture capital firm Autotech Ventures' advisory board, the company announced Tuesday.

Why it matters: The firm's portfolio companies will surely benefit from access to Foxx's expertise in transportation policy, especially for those working on highly-regulated technologies like autonomous driving.

  • Autotech Ventures raised $120 million for its inaugural fund last year.
  • Its portfolio includes ride-hailing company Lyft, parking app SpotHero, used car marketplace Frontier Car Group, and autonomous driving tech company DeepScale.