Chinese authorities have created the third major fund for investment in the development of the semiconductor industry with an authorized capital of 344 billion yuan ($47.5 billion), Yicai reported on May 27.
The third phase of the National Integrated Circuit Industry Investment Fund, which will be the largest, has received financing from banks and state-owned enterprises, according to data from corporate information platform Tianyancha. The fund was registered on May 24.
Its 19 investors include the Ministry of Finance RYH, Shanghai Guosheng Group, China Capital Development Bank, Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China and Bank of China.
According to Tianyancha, Big Fund III, of which Zhang Xin is the legal representative, is engaged in private equity fund management, venture capital fund management services, equity investment, investment management, fund asset management private equity and business management consulting.
Over the past decade, China has stepped up efforts to support its domestic chip industry, particularly through the National Integrated Circuit Industry Investment Fund, which aims to increase the country’s technological self-sufficiency in semiconductors.
Grand Fund I was established in 2014 with a financing volume of 98.7 billion yuan (US$13.6 billion), followed by Grand Fund II in 2019 with a financing volume of 200 billion yuan to invest in research, development and production , equipment, packaging and testing. chip-related applications, components and materials.
Large Fund I invested in Anji Microelectronics, Goodix Technology, GigaDevice Semiconductor and China Wafer Level CSP, and Large Fund II invested in Hua Hong Semiconductor, Unisoc, Nata Opto-electronic Material and 12 listed companies.
In 2022, Big Fund I CEO Ding Wenwu and several other executives were investigated for alleged violations of discipline and the law.
Source: Rossa Primavera
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