<article>Semiconductor industry-focused CTC Capital on Monday announced that it has hit the final close of its second RMB-denominated fund at 3.5 billion yuan ($539 million).</article>

Semiconductor industry-focused CTC Capital on Monday announced that it has hit the final close of its second RMB-denominated fund at 3.5 billion yuan ($539 million).
The oversubscribed fund attracted a slew of investors including government-led funds, state-owned industry majors and fund-of-funds, the VC said in a statement. 
CTC Capital is looking to shore up its investments in the semiconductor industry focused on AI, data centres, 5G network, internet of things (IoT) and smart automobiles. 
Shanghai-based CTC Capital, which launched the second semiconductor fund in April 2019, had set a target to raise 3 billion yuan ($462 million).
Following the debut investment from East China’s Nanjing local authority, CTC Capital invested in over 20 chip projects including automotive SoC producer Nanjing Semidrive Technology, telecom chips provider Picocom, and PetaIO. 
In March this year, CTC Capital along with Matrix Partners China, Lightspeed China Partners, Sequoia Capital China and others invested “tens of millions of US dollars” in GPU chip designer Metax’s pre-A+ round. 
A month earlier, CTC Capital had along with SoftBank’s Chinese arm SBCVC backed the round for telecom-focused intelligent chips developer Shenzhen Xingyuan Technology. 
With 3 billion yuan ($462 million) in assets under management, CTC Capital&#8217;s LPs include China Chengtong Holdings Group, Jiangsu Guoxin Investment Group, Nanjing Industry Development Fund and Pukou Economic Development Zone. 
China&#8217;s semiconductor industry has attracted investor interest and capital flows following the government&#8217;s &#8220;Made in China 2025&#8221; plan that aims to achieve 70% local production to meet the growing domestic demand for chips.

Shanghai-based CTC Capital, which launched the second semiconductor fund in April 2019, had set a target to raise 3 billion yuan ($462 million).

Chinese CTC Capital hits final close of second semiconductor fund

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Chinese CTC Capital hits final close of second semiconductor fund

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