November 2013 – First Out, First In

In November 2013, The Associates realized its first investment made into Detroit Electric, as contemplated as the primary exit option.  All investment capital and profits were returned to the investors in cash.

The $6 million investment made by The Associates was to fund the commercialization of its electric drive train system initially on a sports car platform.  The Associates recruited key accounting and legal personnel in the setup of DE’s Hong Kong office.

A private investor, who has a strategic interest in the Chinese automotive sector, funded the realization of our investment.