BAI Capital raises $700 million to invest in Chinese tech startups

BAI Capital (formerly Bertelsmann Asia Investment), an investment firm focusing on China has raised $700 million to invest in impact-making tech startups in China.

• The firm will invest in retail tech, fintech, content, media, web3, metaverse, and local startups providing solutions in the renewable energy, self-driving, and software-led industrial space.
• Founded in 2008, BAI is an investment arm of Bertelsmann, an international media, services, and education company.
• The VC firm has invested in over 200 companies including Nio, an EV startup, Bigo, a live streaming app, and China's Mobike, a shared bike startup.
• Bertelsmann's global venture capital arm comprises four funds: Bertelsmann Asia Investments (BAI), Bertelsmann India Investments (BII), Bertelsmann Brazil Investments (BBI), and Bertelsmann Digital Media Investments (BDMI).