The semiconductor maker is set to invest $49m in the fund, which will support semiconductor technology companies operating in the Chinese market.
Taiwan-based semiconductor producer MediaTek is set to invest RMB 300m ($48.8m) in the venture fund formed by Shanghai’s municipal government and China-based venture capital firm Summitview Capital.
The fund will initially have $488m of cash to invest in its first phase, before scaling up to a full size of approximately $1.6bn. It will back semiconductor technology companies that operate in China, even if they are not headquartered in the country.
Other investors include China-based semiconductor foundry SMIC, US-based financial services…
