NIO Capital, an investment company founded by Chinese electric vehicle company NIO Inc., announced on Monday that it had closed the NIO Capital Eve ONE Fund II L.P., worth about $400 million. This is nearly twice the size of the first phase of the Eve ONE Fund, which held its final closing in 2019.
NIO Capital also announced that it had completed the first closure of the second phase RMB Fund. After this fundraising is completed, it will continue to focus on early and medium-term investment projects, while its RMB Fund will focus on growth and maturity projects.
The investment company focuses on investment in the fields of mobility, energy, science and technology.
William Li, a managing partner of NIO Capital, said, “Our mission is to sustain and advance humankind via investing in innovations. We are dedicated to fostering a sustainable future with like-minded investors and visionary entrepreneurs.”
Another managing partner, Ian Zhu, added: “Over the past five years, NIO Capital has become an institutionalized investment firm with the ability to integrate industry resources with financial goals. We see exciting opportunities at the crossover of the auto, technology, and energy sectors, and will continue to focus our investments on decarbonization and digitalisation.”
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Participating investors include a mix of sovereign wealth funds, insurance companies, multilateral financial institutions, funds of funds, family offices, pension funds and foundations from the United States, Europe, the Middle East, China, Southeast Asia and Africa. For a couple of the investors, this Fund was the first foray and investment into a China-focused strategy.