The venture firm co-founded by the eponymous EV maker, closed its latest fund with commitments from new and returning LPs including undisclosed insurance providers.

Nio Capital, the China-based venture capital firm co-formed by electric vehicle (EV) manufacturer Nio, closed its second vehicle, Eve One Fund II, at about $400m yesterday.

The fund’s new and existing limited partners included unnamed insurance firms, financial institutions, sovereign wealth funds, funds of funds, family offices, pension funds and foundations from China, the United States, Europe, the Middle East, Southeast Asia and Africa.

For two of the new LPs, Eve One Fund II represents their first commitment to a…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.