The investment firm, co-founded by electric vehicle manufacturer Nio, is looking to raise $500m for a fund that would focus on the automotive industry.
Nio Capital, an investment firm co-founded by China-based smart electric vehicle developer Nio, has approached investors about raising a $500m fund targeting the automotive sector, PEHub reported yesterday citing two insiders.
Nio Capital was launched by Nio in partnership with Sequoia Capital and Hillhouse Capital in December 2016. Its inaugural, renminbi-denominated fund has a target size of RMB10bn ($1.5bn).
Nio Capital has invested between $303m and $455m through the renminbi fund in 15 startups, with recent deals including a
