China’s semiconductor “Big Fund” executive Ding Wenwu reportedly under investigation

China’s semiconductor “Big Fund” executive Ding Wenwu reportedly under investigation

Ding Wenwu, executive of the National Integrated Circuit Industry Investment Fund – known in China’s semiconductor industry as the “Big Fund” – has been placed under investigation according to a report from Chinese media outlet Caixin on Thursday. No details about the nature of the investigation were given. The report follows the news that Lu Jun, a former executive at Sino-Ic Capital, which manages the Big Fund, was placed under investigation on July 15. The Big Fund’s first round of investment closed in 2018 and was valued at RMB 138.7 billion ($20.2 billion) according to Eastmoney Securities; 67% went toward semiconductor manufacturing and 17% to chip design. Notable Chinese semiconductor firms such as SMIC, YMTC, and UNISOC all received funding from this round, according to Caixin. The fund continues to play a major role in the sector since. [Caixin, in Chinese]


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