Private equity news china GTA Semiconductor Raises Over USD bn as Beijing Prepares New Chip Fund

GTA Semiconductor Raises Over USD 1.8 bn as Beijing Prepares New Chip Fund

Chinese auto chipmaker GTA Semiconductor has recently completed a state-funded financing round worth over USD 1.8 billion, according to a report by state-backed Securities Times.

GTA Semiconductor Raises Over USD bn as Beijing Prepares New Chip Fund

Photo by Laura Ockel

The move has been described as a clear signal to the domestic chip manufacturing industry that Beijing is still willing to invest in it.

The largely state-funded financing round was completed just as China prepares to launch a new state-backed investment fund that aims to raise about USD 40 billion for its semiconductor sector. GTA Semiconductor has been backed by state-owned venture capital firms like Shanghai-based Spinnotec. With this injection of capital, GTA Semiconductor has now raised over USD 2.7 billion of mostly state funds in less than two years, according to the Securities Times.


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