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NIO Announces Closing of Eve ONE Fund II at Around $400 Million

Published on: 22 March 2022 06:00 PM
by KnowESG

NIO Capital, a Chinese market-oriented private equity firm focused on decarbonisation and digitalisation, has announced the final closing of NIO Capital's flagship fund 'Eve ONE Fund II' at around USD 400 million.

The oversubscribed and quickly surpassed fund has nearly doubled the capital commitments of its former fund, NIO Capital Eve ONE Fund L.P., which held the final closing in 2019. NIO Capital supports new founders and innovative technologies across the company life cycle.

William Li, the Managing Partner of NIO Capital, said, "Our mission is to sustain and advance humankind via investing in innovations. We help foster a sustainable future with like-minded investors and visionary entrepreneurs."

Ian Zhu, the Managing Partner of NIO Capital, said, "Over the past five years, NIO Capital has become an institutionalised investment firm with the ability to integrate industry resources with financial goals. We see exciting opportunities at the crossover of auto, technology, and energy sectors and will continue to focus our investments on decarbonization and digitalisation."

Despite the constraints and hurdles as a result of the Covid-19 outbreak, the fund received strong support from a diverse mix of existing and new institutional investors. These investors have a strong belief in NIO Capital's target industries and market opportunity set. Sovereign wealth funds, insurance companies, multilateral financial organisations, funds of funds, family offices, pension funds, and foundations from the US, Europe, the Middle East, China, Southeast Asia, and Africa are among the participating investors.

NIO Capital created Fund II to continue its successful investment strategy, building on its position as a pioneer driving digitalization and decarbonization revolution in scalable areas including transportation, energy, and logistics. The team will concentrate on supporting the next generation of new technologies and business models that will reshape its target industry, utilising its unique access to Chinese innovation and in-depth market awareness with a thriving ecosystem.

Pioneering intelligent systems developer Momenta, leading L4 autonomous driving provider Pony.ai, LiDAR systems application maker Innovusion, the industry's first L3 Mass-produced trucks developer Inceptio, digital energy infrastructure provider NewLink, and automotive aftermarket sector leader Tuhu are among NIO Capital's notable investments.

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