Melbourne’s Boman Group, known for managing investments focused on China, is close to completing the first phase of a new US$1 billion fund.

This fund aims to support Australian start-ups with the potential to enter the Chinese market.

Over the past two years, Boman Group acquired the necessary licenses to operate in China.

Founded in 2011, the group plans to open offices in Tianjin, with the possibility of expanding to locations near Shanghai and in southern China.