SoftBank's semiconductor technology subsidiary will co-manage the Hou An Innovation Fund and has recruited several state-owned funds as limited partners.
ARM Holdings, a semiconductor manufacturing subsidiary of telecom and internet group SoftBank, has joined forces with several state-backed entities to form a China-based venture capital fund, China Money Network reported on Friday.
Hou An Innovation Fund is targeting an $800m fundraise, according to an announcement on the website of Chinese government agency Ministry of Science and Technology.
The fund will invest in companies developing technologies including mobile internet, internet-of-things and artificial intelligence across the world.
ARM, which was acquired by…
