Future Capital, Li Auto’s first institutional investor, in search of visionary start-ups

Future Capital, the first institutional investor to back China’s smart electric vehicle (EV) start-up Li Auto, is on the lookout for entrepreneurs whose Midas touch can generate products similar to Apple’s iPhone and Tesla’s cars.

Huang Mingming, founding partner of the Beijing-based venture capital group, told the South China Morning Post that top-notch business leaders like the late Apple co-founder Steve Jobs and Tesla CEO Elon Musk are able to perceive revolutionary products beyond consumers’ imaginations.

“These entrepreneurs can read consumers’ minds and create innovative products catering to their demands,” Huang said. “They accomplish impossible missions, but their forward-thinking ability can also help define the trend of the whole industry.”

Huang likens Li Xiang, co-founder and CEO of Beijing-headquartered Li Auto, to Jobs and Musk, touting him as a rare breed whose vision for battery-powered vehicles sets the tone for the future of mobility.

The venture capitalist established Future Capital in 2014 after Kanbox, a Dropbox-like personal storage service provider he founded, was acquired by e-commerce giant Alibaba Group Holding, owner of the Post.

“Smart EV is the industry where the latest energy, computing and internet as well as artificial intelligence (AI) technologies can be fully utilised to develop new-generation products to enrich people’s lives and make a difference in the world in terms of ESG (environmental, social and governance),” he said. “The industry offers the best investment opportunities over the next five to 10 years.”

Huang is an eloquent speaker when sharing his insights into tech trends, but he is also willing to invest against the trend.