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NIO Capital closes Eve ONE Fund II at around USD400m

NIO Capital, a Chinese investment firm focused on decarbonisation and digitalisation, has held the successful final closing of NIO Capital’s flagship fund, Eve ONE Fund II at approximately USD400 million.

The fund was oversubscribed and quickly surpassed its original target fund size and hard cap. Notably, this Fund has nearly doubled the capital commitments of its predecessor fund, NIO Capital Eve ONE Fund LP, which held its final closing in 2019. With its comprehensive platform of strategies, NIO Capital supports emerging founders and innovative technologies across the company life cycle.

Despite various fundraising limitations and challenges arising from the Covid-19 pandemic, the Fund enjoyed strong support from a diversified group of existing and new institutional investors. These investors hold a high conviction around NIO Capital’s target sectors and robust market opportunity set. 

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, Middle East, China, South-East Asia and Africa. For a couple of our new investors, this Fund was the first foray and investment into a China-focused strategy.

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