Boquan Capital

博原资本 (Boquan Capital) is Bosch Group's market-oriented investment platform focused on China's deep-tech sector, established in 2020 after ten months of internal deliberation — the first time in Bosch's history that it raised capital from outside investors . The firm operates with an unusual structure: it maintains close ties to Bosch while functioning as an independent, third-party institution with its own fundraising, positioning itself between traditional corporate venture capital and network-based industrial funds .

As of December 2024, Boquan had reached a first close of 500 million RMB on its second fund, bringing cumulative assets under management to 1.1 billion RMB since inception; the second fund targets 1.5 billion RMB and will concentrate on green intelligent mobility, Chinese companies expanding overseas, and AI industrial applications . Its LP base includes Bosch as cornerstone investor alongside industrial capital such as Weifu High-Tech and Wuxi Industry Investment, with a 50% reinvestment rate from existing backers .

The firm is led by two managing partners with complementary profiles: Jiang Hongquan, chairman, who draws on over 20 years of automotive and electronics industry experience and also serves as an investment partner at Bosch Venture Capital; and Zhu Lin, CEO, who concurrently remains a managing partner at Gobi Ventures while operating Boquan full-time . Bosch Group's China president Xu Daquan and CFO Yang Chuan both serve as advisors to Boquan, reflecting the platform's role in Bosch's ecosystem-building ambitions .

Boquan's investment approach emphasizes deal structures that achieve并购-like outcomes without traditional acquisitions — for instance, working with companies to spin out specific business units where standalone operation would improve competitiveness, as it did with leading the seed round in KaWen New Energy, a commercial vehicle new-energy spin-off from Foton Motor .