SAIC Motor's Shang Qi Capital unit has raised $145m for the automotive technology-focused fund, which includes Shinry Technologies, Shanghai Diesel Engine and SAIC Capital as LPs.

SAIC Capital, the corporate investment vehicle for China-based carmaker SAIC Motor, has raised RMB1bn ($145m) for a private equity fund following limited partner commitments from investors including automotive components producer Shinry Technologies.

The fund is overseen by SAIC Capital’s private equity arm, Shang Qi Capital, and its investors include SAIC Capital itself and Shanghai Diesel Engine, state-owned SAIC Motor’s engine manufacturing subsidiary, as well as financial services firm Bank of Communications International Trust and venture capital firm Shanghai STVC Group.

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