NIO Capital is pleased to announce its 2025 leadership promotions: Managing Directors Carl Guan and Adair Lv have been elevated to Partners.

This advancement reflects NIO Capital’s commitment to fostering internal talent growth and long-term capability building, while reinforcing the partnership structure. It will inject renewed momentum into the firm’s efforts to deepen industry ecosystems, drive technological innovation, and advance sustainable development.

Guan joined NIO Capital in 2017, leading investments in new energy and other frontier technologies. His portfolio includes Ronbay Technology (688005.SH), United Winners (688518.SH), EVTECH (301607.SZ), CALB (03931.HK), Shanghai Superconductor, AlphaESS, and XREAL.

Previously, Guan was a serial entrepreneur and an equity research analyst at BOC International Securities. He holds a Ph.D. in Electrical Engineering from Texas A&M University (advised by U.S. National Academy of Engineering member Mladen Kezunovic) and a bachelor’s degree from Zhejiang University’s Chu Kochen Honors College. His doctoral research involved projects funded by the U.S. Department of Energy, the Electric Power Research Institute, and the Electric Reliability Council of Texas. An active contributor to his field, Guan once served as a peer reviewer for leading engineering journals and was recognized as a Top 40 Under 40 Investor by China-FoF Research Center.

Lv joined NIO Capital in 2016, focusing on frontier tech, semiconductors, and advanced manufacturing. His key investments include Black Sesame Technologies (02533.HK), Seyond, Hiway, Eacon, CIX Technology, Jaguar Microsystems, ConvenientPower, Enkris Semiconductor, SICHAIN Semiconductor, Scanner Optics, and LimX Dynamics.

Earlier in his career, Lv built expertise in engineering, consulting, and investing. His achievements include being recognized as Under 36 Investor by 36Kr Dark Waves, Top 20 Semiconductor/IC Investor in China, and Best Industry Investor (Automotive Electronics) by Aijiwei. He graduated from Huazhong University of Science and Technology with dual bachelor’s degrees in Telecommunications Engineering and Business Administration.

As key contributors to NIO Capital’s industrial ecosystem strategy, the newly elevated partners have demonstrated sharp investment judgment, systematic research rigor, and deep sector expertise. They have spearheaded high-potential investments, mentored portfolio companies through the NIO Capital CEO Club, and strengthened cross-supply-chain synergies—solidifying the firm’s industry leadership and competitive edge.

Founded in 2016 and led by managing partners William Li (Founder & CEO of EV maker NIO) and Ian Zhu, NIO Capital is an automotive sector-focused investment firm dedicated to industrial transformation driven by decarbonization and digitalization.

In March 2024, NIO Capital promoted Li Yao (focusing on smart mobility and automotive ecosystems) to Partner.

With today’s announcement, the firm now boasts a diverse Partnership team covering smart mobility & automotive, new energy & new materials, advanced manufacturing, AI and digital transformation. This structure empowers NIO Capital to execute its mission of “Nurture & Enrich Our Planet” and its vision to “Make Innovation and Sustainability Great Businesses”