Exclusive: China to launch new $40 bln state fund to boost chip industry, sources say

China is launching a new state-backed investment fund worth $40 billion to boost its semiconductor sector and catch up with the US and other rivals, with a focus on chip manufacturing equipment.

reuters.com

Relevant topic timeline:

7/20/2023

Sequoia Capital China in Talks for New $2.8 Billion Fund, Defying Malaise

This article does not mention anything about Notion. It focuses on Sequoia Capital's Chinese affiliate raising funds for a new Chinese currency fund from domestic backers, including the government of Hangzhou. The size of the fund, if it meets the target, would make it one of China's biggest domestic currency venture funds this year. The article also mentions that raising big yuan funds from state-backed investors is challenging in the current economic environment in China.

9/5/2023

China is reportedly spending big to boost its production of chips for AI and smartphones after the US cracked down on exports

China is planning a $41 billion fund to boost its semiconductor industry in response to US restrictions on exporting chips to the country.

9/10/2023

Chinese Tech Giants Defy Crackdown, China Value Investing Gains Steam as Firms Expand Globally

Fidelity's China fund is outperforming its competitors by investing in the country's big internet names, which are predicted to continue performing well, while value investing is also becoming popular in China.

9/19/2023

China's Venture Capital Struggles to Deliver Returns Amid Tough Markets

China-focused investment firms have struggled to generate returns for their investors, with only four U.S. dollar-denominated venture capital funds established between 2015 and 2020 able to return all the money invested, reflecting a lack of IPOs and the need for alternative exit strategies such as mergers and acquisitions or general partner-led deals.

Topics

Posted 9/5/2023, 8:07:00 AM