Robert Bosch Venture Capital (RBVC), the corporate venture capital arm of Germany-headquartered industrial technology producer Robert Bosch, launched a RMB1bn ($155m) China-based investment vehicle yesterday.
Boyuan Capital will be located in the city of Shanghai and will provide funding for deep technology developers. It will be headed by RBVC investment partner Hongquan Jiang as chairman and managing director.
The RMB1bn figure represents the targeted close for Boyuan Capital’s first fund, Bosch China RMB Growth Fund I, which is also backed by automotive component manufacturer Wuxi Weifu High-Technology.
Areas of interest for the fund include automotive and mobility services, smart manufacturing, artificial intelligence, semiconductors, carbon neutrality and internet-of-things technology.
RBVC managing director Ingo Ramesohl said: “RBVC is continuously growing its investment activities worldwide. In the recent years, China has been undergoing fundamental transition towards a technology-driven economy. The environment for deep-tech investments in China today is very exciting.
“Consequently, China becomes a very important part of RBVC’s global strategy. The establishment of Boyuan Capital and the first closing of its RMB Growth Fund mark significant milestones of RBVC’s growth strategy and activities in China.”
China-based RBVC portfolio companies include robotics technology producer MegaRobo, autonomous driving software developer TrunkTech and autonomous mobility technology provider Uisee.
