4 billion, Boyu Capital welcomes a group of LPs

Jiema LP of Touzijie learned that Bosera Xinzhi Xinchan (Ningbo) Equity Investment Partnership (Limited Partnership) (hereinafter referred to as "Bosera Xinzhi Xinchan") has undergone industrial and commercial changes. More than a dozen new investors, including CATL, Tencent, Pop Mart, Vipshop, Ningbo Financial Holding Group, Beijing State-owned Assets Management Group, and Guotai Haitong Group, have joined, and the registered capital has been increased to 4.001 billion yuan.

This is another new fund under Bosera. With a term of 12 years, it will invest in growth - stage and mature - stage enterprises in the technology, healthcare, consumer goods, and retail sectors at home and abroad, thus attracting a group of star LPs from state - owned assets to industrial giants.

As the spring breeze blows, fundraising has begun again.

Decoding the Luxury LP Line - up

The new fund is based in Ningbo.

According to Tianyancha, Bosera Xinzhi Xinchan was registered and established in July 2025, with its business scope including equity investment and other activities. It was not until December, with the announcement from CATL, that the new fund was unveiled.

At that time, Contemporary Amperex Technology Co., Limited (hereinafter referred to as "CATL") announced that the company had participated in the investment of Bosera Xinzhi Xinchan as one of the limited partners. After the fund completed its first closing, the total committed capital of the fund was 4.001 billion yuan.

Among them, CATL committed to contribute 500 million yuan, holding a 12.497% commitment ratio of the fund. In other words, CATL, as an LP, invested in Bosera's new fund.

Not only that, Bosera Xinzhi Xinchan has gathered a group of industrial capitals: Inner Mongolia Yitai Coal Co., Ltd. committed to contribute 500 million yuan, a subsidiary of CMOC Group Limited committed to contribute 500 million yuan, Tencent committed to contribute 400 million yuan through Shenzhen Tencent Industry Investment Fund, Chongqing Vipshop Investment Co., Ltd. committed to contribute 300 million yuan, and Pop Mart committed to contribute 100 million yuan.

In addition to industrial capitals, local state - owned asset platforms such as Ningbo Financial Investment Holding Group and Beijing State - owned Assets Management Group also appear on the list. Moreover, Guotai Haitong Group also committed to participate in the investment. Such a luxurious line - up is rare in the current primary market.

In just three months, Bosera Xinzhi Xinchan has made an investment - it invested in CATL (Shanghai) Intelligent Technology Co., Ltd., namely Times Intelligence. Registered and established in Shanghai in 2021, Times Intelligence is a subsidiary of CATL that specializes in skateboard chassis. The company provides skateboard chassis products and technical services centered around batteries, focusing on key technologies such as new - energy vehicle chassis, three - electric integration, and intelligent control, and targeting a wide range of application scenarios from manned to cargo - carrying, and from human - machine co - driving to autonomous driving.

In October 2025, Times Intelligence announced its first - round financing of 2 billion yuan, introducing investors such as Bosera, Guotai Junan, Hongshang Group, industrial capital BAIC Capital, and state - owned capitals Shanghai Science and Technology Innovation Fund and Futeng Capital.

This time, Bosera invested in Times Intelligence again through Bosera Xinzhi Xinchan. Meanwhile, the figures of Shanghai state - owned assets such as Shanghai United Investment, Guoxin Investment, and Lingang Science and Technology Innovation Investment also emerged in the background. Perhaps a new round of financing for this super unicorn is already in place.

Layout Footprints

The venture capital circle is no stranger to Bosera.

According to its official website, Bosera Capital was founded in 2011. It is an alternative asset management company deeply rooted in the Chinese market and with a global layout. The company has built a diversified investment matrix covering private equity investment, strategic allocation of listed companies, logistics warehousing and data center investment, venture capital, and new - energy industry platforms. Bosera focuses deeply on three key areas: technological innovation, consumer retail, and healthcare.

Especially recently, people have a deep impression of several super deals handled by Bosera.

The most sensational one among them is the acquisition of the controlling stake in Starbucks China's business. In 2025, Starbucks China decided to sell its equity in the Chinese business, which attracted the hunting of PE firms. At that time, there was a long queue of bidders behind Starbucks China. After a long - term game, finally on November 4, 2025, Starbucks announced a strategic cooperation with Bosera Capital. The two parties will establish a joint venture to jointly operate Starbucks' retail business in the Chinese market.

There is also Beijing SKP. In May 2025, the Beijing Municipal Administration for Market Regulation announced that Bosera's fifth - phase US - dollar fund planned to acquire a partial stake in Beijing SKP through its affiliated parties. After the transaction is completed, the affiliated parties of Bosera's fifth - phase US - dollar fund will indirectly obtain 42% - 45% of the equity of Beijing SKP through financial investment, and Beijing SKP will maintain its previous operation and management structure.

At the beginning of 2026, Bosera handled another super - scale merger and acquisition. The official website of the Beijing Municipal Administration for Market Regulation announced that Ruide Fashion planned to acquire a 75% stake in Beijing Badaling Outlets. After the transaction is completed, it will form a co - control pattern with the original shareholders. Among them, Ruide Fashion, the acquisition entity of the buyer, is from Bosera.

In addition to consumer retail, Bosera is also actively deploying in the hard - technology field. Its footprints can be found behind well - known enterprises such as CATL, Hengrui Medicine, MiniMax, and Tianbing Technology.

This time, with the preparation of Bosera's new fund in Ningbo ready, a new investment map is slowly unfolding.

This article is from the WeChat official account "Jiema LP", author: Zhou Jiali. Republished by 36Kr with permission.