Electronics producer TCL is teaming with the semiconductor producer for an investment fund that has so far received more than $275m from its founding partners.
Electronics manufacturer TCL Corporation and Chinese state-backed fabless semiconductor maker Tsinghua Unigroup are jointly forming a RMB10bn ($1.53bn) investment fund, China Money Network reported today, citing a disclosure document.
TCL Capital, which acts as TCL’s corporate venturing unit, has provided approximately $138m for the fund, as has a subsidiary of Tsinghua Unigroup.
The fund could be topped up through external investors depending on its investment plans, and may choose to take direct external investment, establish subsidiary funds or get more…
