Monroe Capital’s $1B Growth Fund Helps Boost US EV Production at White House’s Urging

The world of electric vehicles (EVs) has a powerful new ally as asset management firm Monroe Capital partners with the White House to launch a $1 billion fund called the “Drive Forward Fund LP.” This initiative aims to address supply chain issues for US EV producers and develop new EV technology. President Biden’s administration has shown commitment to EV transformation through investments in domestic EV production and charging infrastructure. The fund will support small and medium-sized companies within the automotive value chain, providing funding opportunities for component suppliers. The initiative has been praised for its role in advancing automotive electrification in the US.