Bosch has returned to anchor the $206m second fund for its Chinese corporate VC arm, following a $155m debut fund three years ago.
Boyuan Capital, the Chinese venture capital firm formed by Germany-based industrial product and appliance maker Bosch, has reached the first close of a second fund with a RMB1.5bn ($206m) target, DealStreetAsia reported today, citing a WeChat post.
Bosch is anchoring the fund, which has so far raised approximately $69m from an investor base that includes industry capital funds, state-owned enterprises and government guidance funds.
Boyuan Capital was formed in 2021 with a $155m debut fund and invests in growth-stage Chinese deep tech startups. Areas of interest include sustainable transport, smart manufacturing, the internet of things, artificial intelligence, semiconductor and carbon neutralisation technology.
“In the current market environment, we’ve seen significant growth potential and strategic value in green and intelligent mobility solutions, semiconductors, AI-powered manufacturing, new energy and related sector,” said Boyuan Capital managing partner and chairman Jiang Hongquan in the WeChat post.
“They represent not only the forefronts of technological innovations but also the key driving forces behind economic growth and industry upgrade.”
The news comes four months after a Boyuan Capital portfolio company, digital imaging technology provider Black Sesame, floated in a $130m initial public offering in Hong Kong.
