Investment firm NIO Capital, launched by Chinese electric car company NIO, announced today the final closing of Eve ONE Fund II L.P., its decarbonization, and digitalization-focused venture fund at approximately $400 million. 

According to NIO, the new fund was launched to continue the firm’s investment strategy focused on driving digitalization and decarbonization transformation in industries such as mobility, energy, and logistics. NIO Capital’s team will focus on backing the next generation of innovative technologies and business models reshaping its target market, leveraging its access to Chinese innovation and market understanding.

William Li, 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.”

The firm reported strong demand for the fund, which was oversubscribed and surpassed its original target fund size and hard cap, nearly doubling the capital commitments of its predecessor fund, NIO Capital EVE Fund L.P, which held its final closing in 2019.

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 US, Europe, Middle East, China, South-East Asia, and Africa.

Ian Zhu, Managing Partner of NIO Capital, said:

 “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 auto, technology, and energy sectors, and will continue to focus our investments on decarbonization and digitalization.”