With strong support from the highest levels of government, BJ Semi Fund was established as one of the first and largest semiconductor focused private equity funds in China in June 2014. Managed by FUEL Capital team, BJ Semi Fund focuses on growth-stage companies and mid-cap buyout deals in China and overseas in the integrated circuit and related industries. The team raised ~RMB4 billion (approximately US$615 million) in committed capital by December 2015, invested in 4 deals (~RMB3.3 billion), including two companies in China, one in Silicon Valley, and a buyout transaction in Europe.
One of the two Chinese companies went public within one year after the Fund’s investment. The European company is currently in the process of merging with a listed company in China. Both cases provided clear exit paths for the Fund.
BJ Semi Fund actively reviews companies along the value chain of semiconductor industry, including IC design, manufacturing, packaging and testing, materials and equipment and also in areas where semiconductor chips find important applications, such as automotive, consumer electronics, new energy, advanced manufacturing, telecommunication and medical equipment.