State-owned China Integrated Circuit Industry Investment Fund (CICIIF) has joined Hong Kong-listed Semiconductor Manufacturing International Corporation (SMIC), a semiconductor foundry company headquartered in Shanghai, to establish a RMB1.62 billion (US$255.16 million) fund focused on equity investment in semiconductors. The announcement comes after the U.S. banned companies selling equipment to Chinese telecom giant ZTE Corp amid a national campaign calling for self-reliance in semiconductors. Lianli Fund, which invests in advanced manufacturers, and Shanghai Yaoxin Fund, Infotech Ventures’ overseas M&A fund with US$3 billion …

China State-Owned CICIIF To Launch $255M Semiconductor Fund With Foundry appeared first on China Money Network.


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