China's NIO Capital closes oversubscribed USD Fund II at $400m

China's NIO Capital closes oversubscribed USD Fund II at $400m

Source: Nio's website

NIO Capital, an investment firm founded by Chinese electric vehicle (EV) maker NIO, announced on Monday that it reached the final closing of a flagship fund at about $400 million to step up investments in energy, automobiles, and deep technology industries.

The new fund, named “Eve ONE Fund II,” received capital commitments from a diversified group of existing and new institutional investors, said NIO Capital in a statement. It primarily invests in early- and middle-stage startups in China.

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