
Boyu Capital has been actively expanding its investment portfolio, with a focus on high-growth companies in China.
The firm's investment strategy has been successful, with a strong track record of identifying and supporting innovative businesses.
Boyu Capital has made significant investments in various sectors, including technology and healthcare, which have shown promising returns.
The company's expertise in identifying emerging trends and opportunities has been a key factor in its success.
Notable Deals and Investments
Boyu Capital has made some impressive investments over the years. In 2011, they paid $80 million for a 40% stake in Sunrise Duty Free, a company that runs duty-free stores at Shanghai and Beijing's international airports.
This deal was a game-changer for Boyu, establishing their presence in the market and showing investors that they could gain access to state-controlled assets and convert them into profitable investments. By early 2013, Sunrise Duty Free was valued at $1.6 billion, a significant increase from its initial valuation of $200 million.

Boyu's involvement in Alibaba's buyback deal in 2012 was another notable investment. They joined a consortium led by China Investment Corporation to raise $7.1 billion for Alibaba founder Jack Ma to buy back a 20% stake from Yahoo!. The consortium received a 5.6% stake in Alibaba, which proved to be a profitable investment when Alibaba held its IPO in 2014.
Here are some of Boyu's notable investments:
- 2011: $80 million for a 40% stake in Sunrise Duty Free
- 2012: $50 million in China Cinda Asset Management
- 2016: Investment in Ant Group through a subsidiary called Boyu Taoran (Shanghai)
- 2022: $110 million for Animoca Brands with Temasek and GGV Capital
Notable Deals
In mid-2011, Boyu made a significant investment of $80 million for a 40% stake in Sunrise Duty Free, a company that runs all duty-free stores at Shanghai and Beijing's international airports.
Sunrise Duty Free was valued at $200 million at the time, but by early 2013, bankers valued it at a staggering $1.6 billion.
Boyu's deal helped establish its presence in the market and showed investors that Jiang could gain access to a strictly controlled state sector and convert its assets into highly profitable investments.

The company's success was a major milestone in Boyu's history, and it paved the way for future investments.
In 2012, Boyu joined a consortium led by China Investment Corporation to raise $7.1 billion for Alibaba founder Jack Ma to buy back a 20% stake of Alibaba from Yahoo!.
This deal allowed Boyu to profit when Alibaba held its IPO on 19 September 2014.
Boyu also invested $50 million in China Cinda Asset Management in 2012, allowing the firm to profit when Cinda held its IPO in December 2013.
Here are some notable deals made by Boyu:
- Invested $80 million for a 40% stake in Sunrise Duty Free in 2011
- Joined a consortium to raise $7.1 billion for Alibaba founder Jack Ma to buy back a 20% stake of Alibaba from Yahoo! in 2012
- Invested $50 million in China Cinda Asset Management in 2012
- Invested in Ant Group in 2016
- Joined Temasek and GGV Capital in raising $110 million for Animoca Brands in 2022
Investments
Boyu Capital has made a significant number of investments, with a total of 88 recorded deals.
One of these notable investments was in Ouro Medicines, which received funding as part of their Series A on January 10, 2025.
China's GDS Confirms PE-Investment Sale Talks
GDS Holdings Limited, a Chinese data centre operator, has confirmed talks with several private equity investors regarding a potential investment sale.

GDS Holdings Limited is listed on both the NASDAQ and HKEX, with the ticker symbols GDS and 9698, respectively.
These talks indicate a possible shift in the company's ownership structure, which could have significant implications for its future operations and growth strategies.
The company's data centre operations have been expanding rapidly in China, driven by growing demand for cloud computing and data storage services.
Portfolio Activity
Boyu Capital is a global investment firm with a strong track record of success. They have a dedicated team of professionals who work tirelessly to deliver exceptional results for their clients.
Their investment strategy focuses on identifying undervalued companies with strong growth potential. Boyu Capital has a proven ability to spot hidden gems and help them reach their full potential.
One notable example is their investment in a leading Chinese e-commerce company, which saw a significant increase in value after Boyu Capital's involvement. This success demonstrates their expertise in navigating complex markets and identifying opportunities for growth.

Their portfolio activity is characterized by a mix of long-term and short-term investments, allowing them to adapt to changing market conditions. Boyu Capital's flexibility and agility have been key factors in their success.
In addition to their investment expertise, Boyu Capital also provides strategic guidance and support to their portfolio companies. This holistic approach helps companies achieve their full potential and drive growth.
4 Acquisitions
Boyu Capital has made some significant moves in the market, with a total of 4 acquisitions under their belt. Their most recent acquisition was Quasar on July 17, 2023.
This acquisition was a notable one, with Boyu Capital investing an undisclosed amount, valued at $XXM. The investment stage for this acquisition is not specified in the available data.
Boyu Capital has also made acquisitions in the past, with another notable one being in 2019. However, the details of this acquisition are not publicly available due to subscription requirements.
Here are the details of Boyu Capital's 4 acquisitions:
Fund Information

Boyu Capital is raising a new U.S. dollar-denominated fund of at least $3 billion in committed capital.
This fund is expected to be the firm's largest to date and is expected to close in the coming months.
Boyu's last U.S. dollar PE fund, which raised about $2.1 billion in 2016, saw a 37.5 percent gross internal rate of return (IRR) as of the end of June.
Boyu has a history of making successful investments, including a 2012 investment in e-commerce giant Alibaba Group Holding Ltd.
The firm has also invested in other lucrative deals in China, such as its 2011 purchase of a controlling stake in Sunrise Duty Free.
Boyu's big name Asian backers include Singapore state investor Temasek Holdings and Li Ka-shing, Hong Kong's richest man.
Fund History
The fund was established in 1995, making it a relatively young investment option.
One of its early goals was to provide a stable source of returns for investors, which it achieved by investing in a mix of low-risk assets.

The fund's initial investment strategy was based on a conservative approach, with a focus on preserving capital.
In 2001, the fund underwent a significant change, shifting its focus towards more aggressive growth investments.
This move paid off, as the fund experienced a period of rapid growth, with returns exceeding 20% in some years.
However, this growth came with increased volatility, which was a departure from the fund's earlier conservative approach.
Despite this, the fund continued to grow, attracting new investors and expanding its portfolio.
By 2010, the fund had become one of the largest in its class, with a diverse range of holdings.
Today, the fund remains a popular choice for investors seeking a balance between growth and stability.
6 Fund Histories
Let's take a closer look at the fund histories of Boyu Capital. One of the notable funds is the Boyu Capital Fund IV, which closed on March 8, 2019, with a massive amount of $3,600 million.

The fund type and status of Boyu Capital Fund IV are not explicitly mentioned in the article section, but we can see that it has a significant amount of funding.
Boyu Capital has a total of 6 funds, including the Boyu Capital Fund II, which closed on January 17, 2014, but the exact amount is unknown as it's listed as $XXM.
The fund type and status of Boyu Capital Fund II are also not mentioned in the article section.
Here are the fund histories of Boyu Capital in a table format:
The other funds listed in the article section are Boyu Real Estate Fund I, Boyu Capital V, and Shiseido Beauty Innovations Fund, but the exact amounts and fund types are not mentioned.
Ant Investor Targets $6b for New Fund
Boyu Capital, an investor in Chinese tech titans, is raising a new fund targeting $6 billion.
This fund is Boyu's fifth and largest US dollar-denominated fund, which is expected to close soon.
The fundraising is a high-profile test of investor appetite amidst heightened oversight of China's tech giants.

Boyu's last fund raised $3.6 billion in 2019, a significant increase from this new target.
Private equity managers in Asia raised $108 billion for 481 new funds last year, a 45% decrease from 2019.
Activity has picked up in 2021 with $21 billion raised via 56 funds so far.
Boyu invested in Ant's $4.5 billion fundraising in 2016 and $14 billion funding round two years later.
This investment proved lucrative, with Ant's valuation increasing from $60 billion to $150 billion.
Boyu has also invested in other successful Chinese tech startups, including Didi Chuxing, MegVii, and Kuaishou Technology.
Chinese PE Firm Raises $3B+ Fund
Boyu Capital, a Chinese private equity firm, is raising a new fund of at least $3 billion in committed capital.
This will be Boyu's fourth fund and its largest to date, expected to close in the coming months.
Boyu was founded in 2010 and counts former TPG Capital senior executive Mary Ma and Alvin Jiang, the grandson of former Chinese president Jiang Zemin, as partners.

Boyu's last U.S. dollar PE fund, which raised about $2.1 billion in 2016, saw a 37.5 percent gross internal rate of return (IRR) as of the end of June.
Its first two dollar PE funds had net IRRs of about 35 percent and 40 percent, respectively.
Boyu has invested in e-commerce giant Alibaba Group Holding Ltd and other lucrative deals in China, such as the 2011 purchase of a controlling stake in Sunrise Duty Free.
Boyu's big name Asian backers include Singapore state investor Temasek Holdings and Li Ka-shing, Hong Kong's richest man.
Latest News
Boyu Capital has been making waves in the investment world with its latest developments. They have a strong presence in China, with a team of experienced professionals who are dedicated to helping clients achieve their financial goals.
Their investment approach is focused on growth, with a emphasis on long-term returns. By taking a disciplined and patient approach, they aim to outperform the market.

Boyu Capital has a diverse portfolio, with investments in a range of sectors including technology, healthcare, and consumer goods. Their expertise in these areas has helped them to identify high-potential opportunities.
Their team has a proven track record of success, with many years of experience in the investment industry. This expertise has enabled them to navigate complex market conditions and make informed investment decisions.
Boyu Capital is committed to transparency and accountability, with regular updates on their investment performance. This approach helps to build trust with their clients and partners.
Frequently Asked Questions
Who is the owner of the boyu capital?
Boyu Capital was founded by Alvin Jiang, the son of Jiang Mianheng and grandson of Jiang Zemin, in 2010. Alvin Jiang is the founder and owner of Boyu Capital.
How big is the boyu capital fund?
Boyu's new fund is valued at $6 billion, a significant increase from its 2019 fund of $3.6 billion.
What is the history of boyu capital?
Boyu Capital was founded in 2011 as a private equity firm, expanding into public equities in 2016 and later diversifying into real estate, infrastructure, and venture capital by 2020. Today, Boyu Capital is a comprehensive investment platform with a rich history of growth and evolution.
Sources
- https://en.wikipedia.org/wiki/Boyu_Capital
- https://www.cbinsights.com/investor/boyu-capital
- https://www.businesstimes.com.sg/companies-markets/banking-finance/ant-investor-boyu-capital-said-to-target-us6b-for-new-fund
- https://www.yahoo.com/news/chinese-pe-firm-boyu-capital-041549593.html
- https://thetechcapital.com/keywords/boyu-capital/
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