BEIJING, December 24 (TMTPOST) — Chinese mobility service provider Hello Inc. launched its Industry Investment Fund on Friday at the China Bicycle Industry Summit and the 4th Hello Ecological Partner Conference.

The fund is planned to have a total of 3 billion yuan (US$471) and will focus on green and low-carbon mobility. It is expected to raise 1 billion yuan in its first phase.

The fund will focus on the upstream supply chain of the bicycle industry, such as AloT, semiconductor, new materials, electrical system, energy storage, cascade utilization, energy conservation and environmental protection, according to the company’s executive president Li Kaizhu. The fund will work on industry synergy and focus on shareholding investment instead of controlling investment, Li said.

Image Source: Visual China

Hello Inc.’s Industry Investment Fund is the first industry fund in the bicycle industry in China, Ren Lingyuan, director of Hello Inc.’s Investment and Development Department said at the conference. The company hopes to work with partners in the industry to achieve high-end manufacturing and promote green, low-carbon and digital transformation in the bicycle industry. The fund is expected to drive forward the development of enterprises with good potential.

In July 2020, Hello Inc. began to work on building its e-bike brand. The company started to procure components, technologies and services from more upstream supply chain enterprises from an increasing number of sectors. Hello Inc. currently has nearly 500 upstream manufacturing partners from over 20 sectors, including lithium battery, semiconductor and telecom.

In the future, Hello Inc. will take further steps to integrate the bike-sharing business and its e-bike business supply chain, Cheng Liang, general manager of the supply side of Hello Inc. said at the conference. “We already have deep cooperation with some of the partners in the sharing economy sector. We will expand that cooperation to the industrial chain of our e-bike business,” Cheng said.