In a bold move to deepen Australia-China innovation ties, Melbourne fund manager Boman Group has announced the launch of a $1 billion cross-border investment fund, targeting startups in healthcare, technology, and renewable energy across both nations. The new fund is part of Boman’s broader mission to bridge capital, innovation, and commercialisation between Australia and its largest trading partner, China.
Founded in 2011 by Eric Gao and Julius Wei as BMYG Financial Group, and rebranded to Boman Group in early 2024, the Melbourne fund manager is accelerating its international ambitions by establishing a foothold in China. The firm has signed a strategic partnership with the Chinese Communist Party’s Tianjin Municipal Committee, and will open its first Chinese office in Tianjin—just 140km southeast of Beijing.
Melbourne Fund Manager Expands to China Amid Historic Investment Push
With approximately $600 million in assets under management, Boman Group is positioning itself as a unique conduit for bilateral investment. The fund will flow both ways: backing Australian startups looking to scale into China and supporting Chinese companies expanding into the Australian market.
“Australia is rich in natural resources, world-class food and agriculture, and leads in healthcare and tech,” said Boman Group CEO Eric Gao. “Yet our startups often struggle with early-stage capital, commercialisation skills, and a limited domestic market.”
He continued,
“China, on the other hand, offers a vast consumer base, deep commercialisation expertise, and a strong appetite for risk capital. As a Melbourne fund manager, our mission is to merge these strengths to accelerate innovation and global expansion.”
Boman Group Becomes First Melbourne Fund Manager with CCP-Backed China Presence
In securing a Qualified Foreign Limited Partner Licence, the Melbourne fund manager becomes the first Australian investment firm to receive support from both the Chinese and Australian governments for such an initiative. This provides it with access to capital markets, local talent, and innovation ecosystems in China, starting with Tianjin and expanding into additional Chinese cities in 2025.
“We’re building a platform for governments, academics, corporations, and investors to collaborate,” said Gao. “This is just the beginning of a much larger vision to connect economies and improve lives through cross-border innovation.”
Melbourne Fund Manager Invests in Global Tech Leaders
Boman Group has already made international headlines through its high-profile investments, most recently with a $10 million allocation into OpenAI, the San Francisco-based AI company led by Sam Altman. The investment forms part of Boman’s “Unicorn Strategy,” which includes stakes in Airbnb, Databricks, and Klarna—the Swedish BNPL leader preparing for IPO.
Additionally, the Melbourne fund manager holds limited partner positions in leading global VC funds such as Square Peg, Main Sequence, Tiger Global, and Bain Capital.
A Strategic Response to Geopolitical and Economic Uncertainty
The timing of Boman Group’s expansion is critical. As China’s GDP is projected to decline below 5% in 2024 and geopolitical tensions with the U.S. intensify, Australia faces pressure to diversify its exports and strengthen innovation-led trade. Gao believes that Melbourne fund managers like Boman are uniquely positioned to drive that transformation.
“We’re at a tipping point,” Gao noted. “The interest rate cycle is shifting, geopolitical dynamics are evolving, and technological breakthroughs are reshaping entire sectors. As a forward-looking Melbourne fund manager, Boman is prepared to lead in this new global era.”
Boman Group’s launch of a $1 billion cross-border fund solidifies its position as a pioneering Melbourne fund manager at the nexus of Asia-Pacific innovation. With strategic backing, bold vision, and a proven track record in tech investment, Boman is redefining how Australian capital connects with global opportunity.
简体中文 
