Luminar Recruits Two Finance and Technological innovation Leaders to Board of Administrators
PALO ALTO, Calif.–(Small business WIRE)–Currently, Luminar Systems, Inc. (Nasdaq: LAZR), the global leader in automotive lidar hardware and software program know-how, declared the addition of Jun Hong Heng, Founder and Chief Financial investment Officer of Crescent Cove Advisors, and Dr. Shaun Maguire, Companion at Sequoia Money, to Luminar’s Board. Equally will serve as unbiased directors, effective June 9, 2021.
“Shaun and Jun are between the most effective strategic advisors and investors in the substantial-expansion tech business,” said Austin Russell, Founder and CEO of Luminar. “Shaun is conveniently a single of the smartest persons I’ve ever fulfilled, armed with a unicorn combination of encounter as a really profitable founder (building and scaling tech companies), a companion at arguably the leading venture capital company in the environment, and he transpires to be a physics Ph.D who knows a factor or two about anything from black holes to lasers.”
“Jun has deep finance market know-how in tech throughout the U.S. and Asia, and a longstanding historical past with Luminar as our greatest monetary investor although private. Jun aided us expand from an early-phase startup to a major chief in the autonomous automobile globe around the past six decades, and he will be even more fingers-on likely forward. The two of their practical experience and strategic insight will be priceless to Luminar by way of the next section of our journey,” said Russell.
About Jun Hong Heng: Heng is the Founder and Chief Expenditure Officer of Crescent Cove Advisors, LP (“Crescent Cove”), a engineering financial investment organization concentrated on performing with founders and administration groups to build the legendary corporations of tomorrow. He is also the Chairman and Main Executive Officer of COVA Acquisition Corp. Earlier, Heng served as Principal at financial investment organization Myriad Asset Administration from 2011 to 2015, wherever he targeted on Asian credit and fairness, which includes distinctive predicaments. From 2008 to 2011, he served as Vice President of Argyle Avenue Management, a spin-off from the Goldman Sachs Asian Exclusive Cases Team. He started his occupation as an analyst at Bear, Stearns & Co., the place he served in a multi-disciplinary position across technological know-how, media and telecommunications, mergers and acquisitions, and equity and debt cash markets, and subsequently transitioned to Morgan Stanley in Asia. He is a Board Observer for GEO Semiconductor, Motiv Power Units and OneRent, as very well as an Advisor for FreightRoll. Heng retains a B.B.A. in Finance and Accounting from the Stephen M. Ross University of Enterprise at the College of Michigan.
About Dr. Shaun Maguire: Maguire is a Partner at Sequoia Money, a venture funds business that aids daring founders build famous technological innovation firms. He is a Director of AMP Robotics, Get, Knowde, Physna and Vise. Prior to joining Sequoia in 2019, Maguire was a Partner at GV, in which he led their investments in Stripe, Opendoor, IonQ, Spinlaunch, Lambda University, Dandelion Energy, Muddle and Manner, and sourced their financial investment in Segment. Prior to becoming a member of GV, Maguire was a Co-Founder and Chairman at Expanse (formerly recognised as Qadium), a cybersecurity enterprise based in San Francisco that was obtained by Palo Alto Networks (PANW) for more than $800M. He was also a Co-Founder of Escape Dynamics, Inc. Maguire invested two several years doing work at DARPA, through which he deployed to Afghanistan and was part of a workforce that earned a Joint Meritorious Device Award from the United States’ Secretary of Defense. Maguire gained a B.S. in Arithmetic from the University of Southern California, an M.S. in Statistics from Stanford College, and an M.S. in Control and Dynamical Programs and a PhD in Physics from the California Institute of Know-how.
About Luminar Technologies
Luminar is an autonomous car sensor and computer software corporation with the vision to make autonomy protected and ubiquitous by offering the only lidar and affiliated application that satisfies the industry’s stringent general performance, basic safety, and economic specifications. Luminar has swiftly gained over 50 industry companions, together with 8 of the leading 10 worldwide automotive OEMs. In 2020, Luminar signed the industry’s initially manufacturing offer for autonomous purchaser autos with Volvo Cars and trucks, although also not too long ago hanging discounts with Daimler Truck AG and Intel’s Mobileye. Luminar has also been given minority investments from the world’s major industrial vehicle manufacturer, Daimler Truck AG, and Volvo Autos, a global leader in automotive security, to accelerate the introduction of autonomous trucks and cars at highway pace. Founded in 2012, Luminar is a 400-particular person group with workplaces in Palo Alto, Orlando, Colorado Springs, Detroit, and Munich. For extra info you should check out www.luminartech.com.
