This Letter presents a mechanistic study of the large-scale synthesis of Au nanoparticles when using branched polyethyleneimine (BPEI) as a multi-functional reducing agent, capping agent, and stabilizer. During the synthesis, the molar ratio of BPEI/HAuCl4, reaction temperature, and pH of the reacting solution were all found to be important factors in the formation, size control, and stabilization of the Au nanoparticles. The proposed synthetic route provided a highly concentrated product of Au nanoparticles (above 40 g/L), at least 10- to 200-fold more than previous methods, and can be readily applied to a large-scale process due to its simple and mild reaction conditions. (C) 2013 Elsevier B.V. All rights reserved.