NIO Capital closes Eve ONE Fund II at about $400 million

Shanghai (Gasgoo)- NIO Capital, a Chinese investment firm sponsored by NIO, announced on Mar. 20 the final closing of its flagship fund, Eve ONE Fund II L.P. (“the Fund II”), at around $400 million.

Photo credit: NIO Capital

The Fund II has nearly doubled the capital commitments of its predecessor fund, NIO Capital Eve ONE Fund L.P., which was closed in 2019. It attracted investors including a mix of sovereign wealth funds, insurance companies, multilateral financial institutions, funds of funds (FoF), family offices, pension funds and foundations from the United States, Europe, Middle East, China, South-East Asia and Africa. For some new investors, the Fund II was their first investment into a China-focused strategy.

NIO Capital said the Fund II is established to continue its successful investment strategy for driving digitalization and decarbonization transformation in such industries as the mobility, energy and logistics.

Founded in 2016, NIO Capital is a professional investment firm focusing on energy, automobiles, and deep technology sectors. NIO Capital Fund I (RMB, growth stage), co-managed by NIO Capital, Sequoia China and Hillhouse Capital, completed its first closing in 2017. NIO Capital Fund II (USD, early stage) completed its first closing in 2018.

Up until now, NIO Capital has invested in multiple companies including CATL, Ronbay Technology, United Winners, Momenta, Inceptio Technology, Pony.ai, Innovusion, Black Sesame Technologies, etc.

Notably, William Bin Li, founder, chairman, and CEO of the EV startup NIO, was one of the three managing partners of NIO Capital.