Formula E Receives Further Investment

Electric car-racing series Formula E has received further investment with the news that Chinese private equity firm Yao Capital has acquired a stake in the organisation.

Yao Capital is eponymously named after its founder, 7ft6′ former NBA basketball star Yao Ming, and was established in 2016. It has already made investments in the sports industry, but the Formula E move represents a substantial investment for the firm.

This latest investment deal comes after news that Motorsport Network acquired a stake in Formula One.