Asian Tech Press (Dec 24) -- Chinese bike-sharing company Hello Inc. announced Friday the launch of an industry investment fund with industry partners, with a total size of 3 billion yuan ($471 million).

At a forum meeting today, Hello Inc. co-founder and president Kaizhu Li announced that the company will launch an industry investment fund focused on green and low-carbon mobility. And the total fund size is 3 billion yuan ($471 million), of which the first phase to raise 1 billion yuan ($157 million).

The fund especially focuses on new materials and new ecological technology enterprises in the upstream supply chain of two-wheeled transport, such as AloT, semiconductors, energy saving and environmental protection. In terms of investment strategy, it will focus on industrial synergy, with equity participation-based investment and no holding investment.

(US$1 = 6.3682 yuan)