Deals
Geely, SK Invest In $300 Million Future of Mobility Fund
- GLY Capital’s new fund to target transportation, related firms
- Both companies will be part of fund’s strategic advisory board
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Zhejiang Geely Holding Group and SK Holdings Co. have agreed to jointly invest in a transport and technology innovation fund which is set to raise as much as $300 million.
The Chinese automotive group and the South Korean conglomerate SK Group’s holding company will be anchor investors in the New Mobility Fund, SK said in a statement confirming an earlier Bloomberg News report. The fund will invest in mid-to-late-stage growth companies that are innovating in the transportation industry and related sectors.