It was announced Friday afternoon that Bill Ford, the executive chairman of Ford Motor Co., is a founding partner in a new venture capital firm, Fontinalis Partners L.L.C., which will be headquartered in the Penobscot Building in Detroit.

Joining Ford as founding partners are Ralph Booth, the former CEO and chairman of Booth American Co., a Detroit-based private investment firm, and Mark Schultz, the president of international operations at Ford from 2005-2007.

Fontinalis, which is not affiliated with Ford Motor, will concentrate on transportation-related companies.

The amount of money it has under management was not disclosed.

“We are delighted to introduce Fontinalis Partners to the world,” said Ford in a press release.

“We take our mission very seriously to invest in and assist firms currently providing transformational ideas and products devoted to solving the world’s most pressing environmental and mobility oriented problems.

“We believe we are well positioned to do tremendous things to accelerate growth for companies we choose to partner with, and all while doing positive this for both society and the environment.”

The firm will also have an office in Boston. Founding principals are Chris Cheever and Chris Thomas.