WND signs to fund IC industry

An online signing ceremony between Wuxi National Hi-tech District and Wise Road Capital is held on May 24. [Photo/wxrb.com]

The Wuxi National Hi-tech District signed an agreement with Wise Road Capital to build a special fund for the integrated circuit industry via an online meeting on May 24.

According to the deal, WND will invest in the special fund established by Wise Road Capital. Wise Road Capital will work to introduce high-quality projects including mobile communication and internet of things chips, special application chips, and memory chips to WND.

Through the deal, hundreds of high-end talents in the IC industry are expected to come to WND to enhance the research and development and manufacturing capabilities of mobile communications and IoT chips and high-end memory chips in WND and boost the development of the district's IC industry.

Wise Road Capital is a global private equity fund management company of the Zhongguancun Financial Information Technology Alliance that focuses on investment in solid high-tech development and especially in semiconductor core technology. It has successful experience in leading several cross-border M&A projects.

Li Bin, chairman of the Zhongguancun Financial Information Technology Alliance, said Wuxi had developed a complete IC industrial chain with a good location and high-quality and efficient government services.

Li said that further cooperation will be promoted with the capital to jointly achieve more success in the semiconductor and hard technology industries with WND.