SMIC to set up US$250 mn semiconductor fund

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Electronic circuit board. Photo: iStock

The Semiconductor Manufacturing International Corporation, China’s largest integrated circuit foundry, is planning to set up a 1.6-billion-yuan (US$250 million) fund with related parties, focusing on equity investment in semiconductor and related industries, The Paper reported.

According to the partnership agreement, China Integrated Circuit Industry Investment Fund Co. will contribute 800 million yuan, SMIC’s wholly-owned subsidiary SMIC Jingyuan will invest 165 million yuan, Lianli Fund will park 635 million yuan, and IPV Capital’s overseas M&A fund Shanghai Yaoxin is expected to fund 16.16 million yuan.

The new fund will invest in selected companies operating in semiconductor and related industries, in order to assist the accelerated development of China’s integrated circuit industry ecosystem and explore potential business opportunities for the development and integration of industrial assets.

China Integrated Circuit Industry Investment Fund Co. is a state-owned fund set up in 2014 to prop up the value chain of the integrated circuit industry, which involves chip design and production, packaging and testing. Its largest shareholder is The Ministry of Finance, which holds 25.95% of the shares.

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