Jul 30, 2019 (China Knowledge) - China Integrated Circuit Industry Investment Fund (China IC Fund) has successfully raised capital for its second tranche of RMB 200 billion (USD 29.08 billion). It is said that the new investments are likely to lean towards applications in the downstream supply chain, including chip design, advanced materials, and equipment manufacturing.
China IC Fund, incorporated in September 2014, mainly invests in the value chain of integrated circuit industry via various approaches. It is aimed at leading national efforts to catch up in the global semiconductor industry by backing chip start-ups and research and development via the private and secondary markets.
The second round of funding comes about five years after China IC fund raised RMB 138.7 billion (USD 20.16 billion) in its first round in 2014. For the second tranche, the fund welcomes the participation of overseas companies, as announced earlier by the country's tech industry overseer, the Ministry of Industry and Information Technology.
In May 2018, China IC Fund launched a USD 255-million fund to invest in semiconductor companies. Its subsidiary, China IC Capital, will be working with China IC Fund, IPV Global, and L&L Capital for the establishment and management of IPV Capital Global Technology Fund. China IC Fund is providing RMB 800 million (USD126 million) in funding and control 49.5%, according to the HKEx filing.
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