Kingsoft and Xiaomi jointly set up a new fund focusing on integrated circuits and related fields

Kingsoft Software recently announced that its subsidiary Wuhan Kingsoft has signed a new cooperation agreement with Xiaomi Beijing, Xiaomi Wuhan and other limited partners to establish the Beijing Xiaomi Smart Manufacturing Equity Investment Fund. The total subscribed capital of the fund will increase from the original RMB 9.03 billion to RMB 10 billion, and the additional RMB 970 million will be provided by some existing and newly joined limited partners. The fund's investors include Xiaomi Beijing, Xiaomi Wuhan, Wuhan Kingsoft, Yizhuang Guotou, Tianjin Haichuang, Beijing Guidance Fund, Ganzhou Guangkong, Zhaoyi Innovation, Dio Micro, Nanxin Semiconductor, etc., and Lei Jun serves as the chairman of the investment committee of the new fund. The fund's main investment direction is integrated circuits and their upstream and downstream fields, including new generation information technology, intelligent manufacturing, new materials, artificial intelligence, displays and display devices, automotive electronics, as well as upstream and downstream applications and supply chains of mobile terminal consumer products and smart devices.