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Logistics and truck rental giant Ryder joins the businesses making the jump into venture capital in 2020

While the launch of a $50 million venture capital fund by the shipping, logistics, and truck rental company Ryder System may have seemed like an odd strategic move, it’s actually the culmination of roughly three years of investment activity from the Florida-based company.
Ryder’s push to create its own venture fund is actually part of a broader trend among corporations who have used the COVID-19 epidemic in the US as an opportunity to start investing in startups — even as a large portion of the population struggles to find work.
And it’s one that is vital for a company like Ryder, which has seen investments into new technology in its once sleepy little industry top $6 billion, according to company executives. That’s a massive figure promoting new tech development in a business where Excel spreadsheets used to be considered state of the art.
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