National IC Industry Investment Fund

The National Integrated Circuit Industry Investment Fund, commonly known as the "Big Fund," is a state-backed investment vehicle established by the Chinese government to foster the growth and self-sufficiency of the domestic semiconductor industry. Launched in 2014, the fund operates through multiple investment phases, raising hundreds of billions of yuan from the Ministry of Finance and other state-owned enterprises. Its investment strategy covers the entire integrated circuit (IC) value chain, including chip design, manufacturing, packaging, testing, and equipment materials. While the fund is not a healthcare or life sciences company, its investments in high-performance computing and sensor technology support the development of advanced medical devices and diagnostic infrastructure. The fund is managed by Sino-IC Capital and plays a central role in China's strategic industrial policy to achieve technological self-reliance.