Bosch launches Boyuan Capital, hits first close of China-focused RMB fund

Bosch’s new flexible smart charging cable

Boyuan Capital, set up by global engineering and technology giant Bosch for technology bets in China, has launched its RMB-denominated fund seeking to raise as much as 1 billion yuan ($155 million), per a company statement on Monday.

The vehicle, named Bosch China Growth Fund I, has reached the first close from limited partners including Bosch, Chinese automotive component manufacturer Wuxi Weifu High-Technology Group, among others.

Boyuan Capital, the first investment arm set up by Bosch, will focus on sustainable transportation, smart manufacturing, internets of things (IoT), artificial intelligence (AI), semiconductors, among others. 

Prior to the launch of Boyuan Capital, Bosch had inked an agreement with Wuxi National Hi-tech District Government and Wuxi Weifu High-Technology Group to help Weifu and local enterprises reduce carbon emission, it said earlier this month. 

In March this year, Bosch teamed up with a clutch of investors including SAIC Motor, Toyota, Daimler AG, Temasek, Yunfeng Capital and Tencent to collectively invest $500 million in Chinese autonomous driving startup Momenta.

In 2020, it had participated in China’s 3D-sensors (LiDAR) provider Hesai Technology’s $173-million Series C round of financing. 

“Bosch China will invest in the futuristic industries such as pro-planet transportation and AIoT. As investment activity will have a significant contribution to business development in China, so the establishment of Boyuan Capital will better benefit our investment in the technology field,” said Bosch China president Dr. Chenyudong in the statement. 

Headquartered in Gerlingen, Germany, Bosch is a global supplier of technology and services with four business sectors – mobility solutions, industrial technology, consumer goods, energy and building technology. 

As of December 2020, its annual sales from China stood at 117.3 billion yuan ($18 billion), making it the group’s largest overseas market. 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.