China IC Fund

China IC Fund China IC Fund (the "Big Fund") is the world's largest chip-focused investment vehicle, created as the centerpiece of China's national semiconductor strategy. Phase III, established in May 2024, deployed ¥344B ($47.5B), the largest phase yet. Total commitment across all three phases reaches approximately $95B (Phase I: $19.2B, Phase II: $28.2B, Phase III: $47.5B), with six major Chinese banks committed as investors. Phase III operates on a 15-year investment horizon (2024-2039), targ