Shanghai raises $7.4bn IC promotion fund

Shanghai, has raised a $7.4 billion fund to back the IC industry, reports Digitimes.

By David Manners-Electronics Weekly, Aug. 01, 2017 – 

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.