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On
November 24th of 2014, Shanghai Venture Capital Guiding Fund and SummitView
Capital officially signed a contract to established Shanghai SummitView
Integrated Circuit & Information Industry Buyout Found. Member of the
Standing Committee of Shanghai Municipal Committee and Vice May of Shanghai, Ai
Baojun attended the signing ceremony, accompanied by leaders form other
Shanghai municipal departments. Cai Mingjie, Chairman of MediaTek, Gao
Yonggang, CFO of SMIC, Li Feng, Shanghai Science and Technology Investment Co.,
Ltd, etc. attended the ceremony as the delegates of initiator of the fund.
The
total scale of Shanghai SummitView Integrated Circuit & Information
Industry Buyout Found is 10 billion yuan, while the first phase is 3 billion
yuan. Meanwhile, SummitView Capital also signed a series of strategic contracts
with five banks i.e. Shanghai Branch of China National Development Bank,
Shanghai Bank, Shanghai Branch of Shanghai Pudong Development Bank, Shanghai
Branch of China Merchants Bank and Shanghai Branch of Bank of China. Under the
contracts, these five banks will join hand to provide the new buyout found 30
billion yuan credit lines to support the fund to conduct merger and acquisition
in the global wide; thus to boost the development of Shanghai IC industry.
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