SummitView Capital Launches $1.7Billion Fund
Summary
SummitView Capital opened a new ¥10 billion RMB ($1.7 billion USD) private equity fund and a strategic collaboration with the Shanghai government in cooperation with the China National Fund.The fund enables SummitView to acquire global semiconductor design companies and help them expand their market share in China by increasing sales, marketing activities, support and engineering.The acquired entities will maintain their operations, research and development activities worldwide.In addition to the initial funding, SummitView Capital has also signed agreements with China Development Bank, Bank of Shanghai, Shanghai Pudong Development Bank, China Merchant Bank and Bank of China to secure debt financing for its operations of ¥30 billion ($5 billion USD).The fund is headquartered in Shanghai with offices in Beijing and San Francisco.