Zack Freed

Zack Freed is a Managing Director at FM Capital (formerly Fraser McCombs Capital / First Move Capital), an automotive- and mobility-focused venture firm that has grown to more than $500 million in assets under management across four funds. He has been with the firm essentially since inception, joining in 2011, and today leads the firm's investment sourcing and due diligence processes as well as its ongoing communications with strategic and shareholder investors. He was elevated from Senior Associate to Principal in 2022 as part of a broader build-out of the firm's senior leadership team, and now carries the Managing Director title.

Before FM Capital, Freed worked within the Red McCombs organization — the San Antonio–based family business of billionaire Red McCombs. He was an analyst at McCombs Partners, the family office's investment arm, where he sourced and led automotive and technology investments. He also served as E-commerce Director for the Red McCombs Automotive Team, overseeing the selection and implementation of software vendors for the dealership group's sales and service operations, giving him hands-on operating exposure to the auto-retail problems the firm now invests behind.

Freed earned a Bachelor of Arts in Economics and Political Science from the University of Rochester and an MBA (concentrations in Strategy and Marketing) from the University of Rochester's Simon Graduate School of Business. He resides in Salt Lake City with his family and is an avid skier and camper.

He is an active board-level participant in the portfolio, serving as a board observer for FM Capital companies including DigniFi, RAVIN.AI, and RevolutionParts.

• Invests in early-to-mid stage companies transforming the movement of people and goods — both reinventing how transportation works and redefining how transportation services are delivered and consumed.
• Core sectors: auto commerce / online retail, vehicle connectivity, autonomy and sensors, artificial intelligence, electrification and zero-emission vehicles, and shared mobility.
• Typical entry at the Series A or first institutional round, with initial checks historically around $5–10M and, with the larger Fund IV, initial investments of $5–15M; the firm expects Fund IV to back 20+ transformative companies.
• Leverages a strategic-LP base drawn from across the automotive ecosystem — dealers, distributors, OEMs, suppliers, and insurers — as a source of distribution, pilots, and industry validation for portfolio companies.
• Freed personally focuses on sourcing, diligence, and analysis of prospective investments, meaning founders will often encounter him as the deal lead evaluating the opportunity.