Asian Tech Press (Mar. 17) -- Rockets Capital, a fund focused on investments in the smart electric vehicle (EV) industrial chain, announced Thursday it has raised more than $200 million from a funding round led by XPeng Inc. (NYSE: XPEV).

The leading Chinese electric vehicle manufacturer XPeng is a strategic cornerstone contributor to the first US dollar funding of Rockets Capital.

The round also attracted several top Chinese investment institutions, including IDG Capital, eGarden, Sequoia China, 5Y Capital and GGV Capital.

Founded in early 2022, Rockets Capital is a fund focused on investment opportunities in the smart electric vehicle supply chain, clean energy and cutting-edge technology sectors.

The fund strives to create superior returns for its investors by focusing on early-stage and growth-stage targets and identifying outstanding companies with technological innovation and disruptive potential.