October 26, 2017 / 9:51 AM / in a month

China Everbright, VC firm Walden launch $500 mln semiconductor fund

HONG KONG, Oct 26 (Reuters) - China Everbright Limited and venture capital firm Walden International are launching a $500 million fund to invest in the semiconductor and industrial information technology, amid Beijing’s ambition to be a global leader in the sector.

The Walden CEL Global Fund I will focus on semiconductor and electronic information firms globally, including those in microchip, artificial intelligence and hardware, at the growth and maturity stages, the companies said in a statement on Thursday.

The companies plan to import the high-end technology of the fund’s future portfolio companies into the Chinese market in a bid to boost the country’s semiconductor industry. (Reporting by Julie Zhu; Editing by Himani Sarkar)

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