HONG KONG, Oct. 26, 2017 – China Everbright Limited (CEL) and U.S.-based venture capital firm Walden International are launching a $500 million fund to invest in semiconductor and industrial information technology, amid Beijing's drive to be a leader in the sector.
The Walden CEL Global Fund I will focus on semiconductor and electronic information firms globally, including those in microchip and artificial intelligence, at the growth and maturity stages, the companies said in a statement on Thursday.
They plan to import the high-end technology of the fund's future portfolio companies into the Chinese market to boost the country's semiconductor industry.
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