China-based semiconductor foundry operator SJ Semiconductor (SJSemi) has completed a $300m series C round that included real estate developer Country Garden’s venture capital arm, Country Garden Venture Capital.
Financial services firms CMB International and China Construction Bank also took part in the round, the latter through its CCB PE and CCB Trust units, as did state-owned financial holding group China Everbright Group’s Walden CEL subsidiary.
Investment bank China International Capital Corporation, investment firm Oriza Holdings’ Oriza Rivertown and Oriza Hua Capital vehicles, brokerages Citic Securities and Huatai Securities (through its Huatai International Private Equity Fund), investment manager GP Capital and the municipal government-backed Shenzhen Capital Group Company also contributed.
Founded in 2014 through a partnership between semiconductor foundries Semiconductor Manufacturing International (SMIC) and Jiangsu Changjiang Electronics Technology, SJSemi provides outsourcing services for chip manufacturing, including wafer bumping and testing.
The round lifted the company’s overall funding to $630m and followed a $108m first close of the series C round in September 2021.
SJSemi disclosed a $280m round in 2015 that included SMIC, an unnamed subsidiary of mobile chipmaker Qualcomm and China Integrated Circuit Industry Investment Fund, which is backed by corporates including telecommunications system providers China Electronics and Datang Telecom, and telecoms groups China Telecom and China Unicom.
