GLy Capital Management, a Hong Kong-based investment manager in the mobility sector, has closed its first private equity fund, the New Mobility Fund, with $163 million in capital commitments.
The fund was launched in early 2021 with the intention of investing in disruptive firms driving a cleaner, safer, and more connected mobility future. The fund has already committed successful investments in firms including Polestar, ECARX, Freewire, Vayyar, Volocopter, Carwow, and Nexeon.
“Our New Mobility Fund has received exceptionally positive feedback from investors amid a challenging funding environment, reflecting strong investor interest to back companies disrupting transportation and decarbonized mobility,” said Hrvoje Krkalo, co-CEO, GLy Capital Management. “We have already seen exceptional returns from our portfolio companies all of which are leading mobility disrupters with solid commercialization plans.”