The second phase of the Chinese state-owned semiconductor investment fund invested in two startups engaged in IC design and EDA tool development, respectively.
According to Jiwei, Chinastarmarket, and East Money, Shanghai-based Joywell Semi has completed the sixth round of fund-raising, welcoming new shareholders, including the China Integrated Circuit Industry Investment Fund II (Big Fund II) and Shanghai China Mobile Digital Transformation Industry Private Equity Fund Partnership. The startup's registered capital increased to CNY14.87 million (US$2.05 million), marking an 8.93% rise. The Big Fund II holds a 1.64% stake in Joywell Semi after the investments.
Besides, the Chinese Big Fund II also invested in China-based EDA tool provider Advanced Manufacturing EDA Co. Ltd (AMEDAC). AMEDAC was founded in 2019 in Anhui, with subsidiaries in Shanghai, Beijing, Guangzhou, and Zijan.
Founded in August 2019, Joywell Semi is a high-end IC design house specializing in developing and selling high-end mixed ICs. The company also operates under the IP licensing model, with a product lineup including PLL, ADC, SerDes IP, specialized communication, and mixed-signal chips.
According to its website, AMEDAC engages in software development and services focused on providing integrated solutions for intelligent manufacturing. However, the startup does not disclose any product or service portfolio on its website.
The investments by Big Fund II came after China formed Big Fund III, which has yet to make any investments. Meanwhile, as Big Fund II keeps investing in nurturing upcoming national champions in China, Chinastarmarket reported that Big Fund I, founded in 2014, has reduced its stakes in companies, including Analogic and C*Core Technology.
Chinastarmarket reported that despite reducing its investment size, Big Fund I still holds stakes in over 20 companies in China, including Nova Technology, China Resources Microelectronics, Silan Microelectronics, TongFu Microelectronics, Empyrean Technology, and Changchuan Technology.
