Volocopter Funding Hits $600 Million With Saudi, Geely Stakes

Source: Bloomberg

Hong Kong, 1 November 2022 – Flying-taxi pioneer Volocopter GmbH’s launch funding reached $600 million after it raised cash from Saudi Arabian and Chinese investors in a fifth financing round ahead of the planned start of commercial flights in 2024.

Volocopter tapped a total of $182 million from Neom, which is building a futuristic city on the Red Sea in the far northwest of Saudi Arabia, and Hong Kong-based GLy New Mobility Fund, backed by Chinese carmaker Zhejiang Geely Holding Group Co., the German firm said in a statement Tuesday.

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Geely’s Farizon Auto Secures Over $300m through Pre-A Series Funding

Source: Zhejiang Geely Holiding Group Media Centre

2022 October 26th, Hangzhou, China. Farizon Auto, the new energy commercial vehicle brand from Zhejiang Geely New Energy Commercial Vehicle Group (a subsidiary of Geely Holding) today announced that it has raised over $300 million USD in its first round of external fund raising.

This Pre-A round of investment was led by Hidden Hill Capital, which is backed by Singapore’s GLP. Other key investors include strategic investors and renowned investment institutions, such as Transfar, Citic Securities Investment, Industry Foundation of Xiangtan (Hunan, China), GLy Capital and Mirae Asset.

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ESG大行其道 吉安周運成:新出行生態具機遇

Source: iMoney Magazine

Hong Kong, 1 October 2022 –  全球氣候變化與環保意識提升,低碳和可持續發展亦搬上投資枱面,並漸成新興主流之一。配合科技發展,電動車大行其道,投資紛紛進駐相關市場以捕捉增長機會,帶動自動化駕駛、車用晶片開發等周邊行業發展。但面對各國先後修訂晶片技術支援政策,以及俄烏戰爭為全球帶來的原材料與能源短缺,投資者似乎面臨不少風險。

吉安資本管理首席投資官周運成接受本刊訪問時表示:「以往市場可能對新出行缺乏認知,但在過去幾年中,市場有更多的人認識到並漸入主流。」在母公司、中國最大的汽車製造商浙江吉利(00175)的支持下,吉安資本管理於2021年推出吉安新出行基金,投資圍繞新出行的生態系統相關行業,以把握市場趨勢。 Read more

GLy New Mobility Fund invests into Ascend Elements, battery recycling and engineered materials company

23 September, 2022

Hong Kong, 23 September 2022 – GLy New Mobility Fund participated in the Series C round of Ascend Elements, a U.S. based battery recycling and engineered materials company. With over 10 years of research effort, Ascend Elements has developed a “Hydro-to-Cathode” direct precursor synthesis process which efficiently turns end-of-life lithium-ion batteries back into the cathode active material, which is the single most valuable part of a lithium-ion cell. By forming closed loops with battery manufacturers and automotive OEMs, Ascend Elements contributes to a sustainable and clean circular battery economy. 

“We are pleased to have GLy Capital as an investor in Ascend Elements. The organization’s leaders understand the urgent need to produce sustainable, lithium-ion battery materials in local markets around the world,” said Michael O’Kronley, CEO at Ascend Elements. “It’s not enough to simply recycle lithium-ion batteries and recover metals for the global commodity markets. Instead, we are producing sustainable, high-performance cathode active materials for top EV battery manufacturers.”  Read more

Geely-backed GLy Capital gears for second mobility fund launch in 1Q23 – co-founders

Source: Mergermarket

Hong Kong, 5 September 2022 –  GLy Capital Management, a Hong Kong-based mobility-focused investment rm that announced a nal close on itsdebut private equity fund in July, aims to launch a successor vehicle in the rst quarter of 2023, said founders andco-CEOs Anny Lin and Hrvoje Krkalo. The investment manager, which is majority owned by Chinese car maker Zhejiang Geely Holding Group, is lookingto raise USD 300m-USD 500m for Fund II, they said. It has already initiated talks with existing limited partners(LPs) ahead of a planned soft launch in the fourth quarter of this year. The goal is to reach a rst close in the rstquarter of 2023.  Read more

GLy Capital Management Raises US$163 Million for
The GLy New Mobility Fund

10 August, 2022

Hong Kong, 10 August 2022 – GLy Capital Management (“GLy”), a Hong Kong-based leading investment manager in the mobility sector, today announced the final close of its first private equity fund, the New Mobility Fund (the “Fund”), with a total of US$163 million in capital commitments.

The New Mobility Fund was launched in early 2021 to invest in disruptive companies which help drive a cleaner, safer and more connected mobility future. Leveraging GLy’s privileged industry access, insight and extensive network, the Fund focuses on smart cars, electrification, intelligent cities and materials. Read more

Hong Kong's Gly Capital closes debut mobility fund

Source: AVCJ

Hong Kong, 10 August 2022

Gly Capital Management, which is majorly owned by a Chinese automaker, tapped external investors for the first time in raising USD 163m for global investments in smart cities and smart cars

Gly was established in 2017, but it wasn’t until 2021 that the firm decided to tap external sources of funding. The New Mobility Fund was launched early in the year, with anchor LP commitments from Geely and Korean conglomerate SK Group. Each agreed to contribute 18% of the overall corpus. There were two incremental closes in 2021 and a third in March.

“We just wanted to make sure that we have the right structure, governance, licenses, and people. In addition, it also took us quite some time to cultivate the relationships with our anchor investors,” said Hrvoje Krkalo, co-CEO of Gly. “In fact, our portfolio companies [backed after the first close] helped with the second, third and final closing.”

“We seek to invest in assets that are redefining the global transportation industry. With our solid shareholder support, we combine deep industry know-how and unique ecosystem insight to identify the investment opportunities that underpin profitability and the best-in-class investable assets,” said Anny Lin (pictured, right), who shares the CEO role with Krkalo.

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GLy New Mobility Fund Participates in US$200 Million Series D Round of Nexeon, a Global Leader in next generation silicon-based anode materials

4 August, 2022

Hong Kong 04 August 2022, GLy Capital Management on behalf of the GLy New Mobility Fund participated in Nexeon’s $200 million Series D round.  

Nexeon is an international developer and manufacturer of breakthrough silicon-based anode materials for rechargeable Lithium-ion batteries. Nexeon’s technology results in lighter batteries with more power and longer lifetime between charges. The round was led by the SK Chemicals and SJL Partners and included GLY Capital Management, Ingevity, and others.  Read more

GLy New Mobility Fund joins online automotive marketplace Carwow’s Series D round

13 June, 2022

GLy New Mobility Fund has taken a minority stake in carwow, a leading one-stop online marketplace for buying, selling, financing, leasing or subscribing a car. The platform enables people to compare cars and get recommendations and connects them with a high-quality dealer. carwow’s efficient and competitive reverse auction model increases sales for the dealers, aswell as provide car buyers with a simplified, transparent and stress-free car buying experience. Read more

GLy New Mobility Fund Invests in Israeli Unicorn Vayyar

08 June, 2022

Hong Kong, 8 June 2022 – GLy New Mobility Fund, a global mid-to-late-stage private equity fund backed by Zhejiang Geely Holding Group, today announced that it has completed the investment in Vayyar Imaging, a leading 4D imaging radar-on-chip solution provider based in Israel. Read more

Leveraging disruptors in new mobility

October, 2021
Source: Alter Domus: Sensus Magazine Issue #8

This edition of Sensus explores how sustainable and future-proof strategies once deemed visionary are now widespread among alternative asset classes. Through expert commentary, areas such as ESG, green finance, renewable energy and new mobility opportunities are examined.

EVs are just ‘tip of the iceberg’ : PE manager GLy on new mobility theme

6 May, 2021
Source: Asian Private Banker

Asian Private Banker recently interviewed Hrvoje Krkalo, Founder and co-CEO of GLy, about the firm’s newly-launched New Mobility Fund, which looks beyond electric vehicle makers. Read more

GLy Capital Management invests US$130 million in Polestar’s first external fundraising

3 May, 2021

GLy Capital Management announced the funds it manages invested US $130 million in Polestar’s first external fundraising round. The Polestar stake is the cornerstone asset of GLy’s New Mobility Fund, which had its first close earlier in the year. Read more

唔止電動車咁簡單! 專家教路投資移動出行概念

28 April, 2021
Source: Hong Kong Economic Times

Not only EVs! Lesson from an expert on investing in the mobility theme Read more

GLy New Mobility Fund participates in US$125 million Series D round of Freewire, a leader in ultrafast EV charging and energy management solutions

27 April, 2022

Freewire, the US-based battery-integrated EV charging solution provider announced that it has raised US$125 million in a Series D funding round. Investors of the round include BlackRock Financial Management, Inc., bp ventures, Riverstone Holdings, Daishin Private Equity amongst others. GLy New Mobility Fund joined the round to support Freewire’s drive to accelerate EV adoption and provide ultrafast charging solutions to customers across various markets. Read more

Geely, SK- backed GLy to raise $300m fund as covid turbocharges future of new mobility

20th April 2021
Source: DealStreetAsia

DealStreetAsia recently interviewed Hrvoje (Harry) Krkalo, Founder and co-CEO of GLy, about the firm’s newly-launched New Mobility Fund and his plan of capital deployment. Read more 

Mobility: Gravitational Shift

20 April, 2021
Source: AVCJ

AVCJ explores financial opportunities for investors as the mobility sector embraces more innovation. Hrvoje Krkalo, Founder and Co-CEO of GLy Capital Management, spoke to AVCJ to share his insights around the topic.  Read more

The technology transformation of transportation

16 April, 2021
Source: The Asset

Since the emergence of the Covid-19 pandemic more than a year ago, there has been heightened awareness of the impact we as humans have had on the environment particularly when it comes to carbon emissions. Read more

Geely Holding and SK Holdings Invest in New Mobility Fund with GLY Capital Management

18 March, 2021

Zhejiang Geely Holding Group and SK Holdings have signed on as anchor investors to GLy Capital Management’s New Mobility Fund (Fund). The Fund will invest in companies set to redefine the transportation industry. Read more




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