Everbright and Walden launch semiconductor fund

Computer_processor_chipChina Everbright is launching a fund focused on the semiconductor sector in partnership with venture capital firm Walden International. The fund, which has a target size of $500 million, will invest in microchip, artificial intelligence and other technology companies. “[The fund] is expected to make investments and initiate M&As in notable projects in global semiconductor area at the growth and maturity stages, realising potential returns both from the projects' technological developments and capital market movements,” said a statement from the firms. China accounts for nearly half of global revenues in the semiconductor sector as well as nearly half of global consumption. Although US and European companies still dominate chip design, Chinese companies are now active at almost all other levels of the supply chain, said the firms. Based in Hong Kong, China Everbright manages a number of private equity and venture capital funds as well as bond and equity products. Walden International has $2.6 billion under management. ©2017 funds global asia

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