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Home > News > Company News > Shanghai raises $7.4bn IC prom.....

Shanghai raises $7.4bn IC promotion fund

  • Author:Ella Cai
  • Release on:2017-08-01
Shanghai, has raised a $7.4 billion fund to back the IC industry, reports Digitimes.

The intention is to help fabless companies make acquisitions and assist the equipment and materials industries.

Last year the Shanghai fund, called the Shanghai Integrated Circuit Industry Fund (SICIF) raised $3.5 billion with 10% of that coming from the China government’s China Integrated Circuit Industry Fund.

SAIC, the China car company, and Shanghai Science and Technology Venture Investment are also reported to have invested.