Yeah that confused me too. The $1B must be referring to the money raised by XPO.com from private equity backers to roll up a bunch of old school freight forward

Yeah that confused me too. The $1B must be referring to the money raised by XPO.com from private equity backers to roll up a bunch of old school freight forwarding businesses. There's no tech involved in that play though, so it's a bit misleading to call it venture capital. In fact it was mostly done as a private investment in public equities (PIPE) deal, where PE funds put cash into a listed freight forwarder.