Chinese chip maker SJ Semiconductor, backed by Legend Capital, has raised $700 million in a new financing round.
The roster of newly onboarded investors includes Fortera Capital, a private-equity firm under the Shanghai State-owned Capital Investment, state-owned Shanghai International Group, and China Life Insurance arm China Life Private Equity Investment, among other Greater China investors.
The financing will help the company further progress in its operations and productions, according to a company statement.
SJ Semiconductor last announced a funding round in April 2023. It raised $340 million in an extended Series C round, valuing the company at $1.8 billion at the time. It did not specify the funding stage or valuation with its latest fundraising.
It counts China’s state-owned Oriza Holdings affiliate entities – Oriza Rivertown and Oriza Hua Capital – and CICC Capital, an investment arm of investment bank China International Capital Corp, among its list of backers.
Semiconductor firms have continued to ride on the tailwind, as the country strives for self-reliance in chipmaking amid an intensifying chip war with the US. The semiconductor sector has topped the charts and remained highly sought after by investors throughout 2024.
Founded in August 2014, with branches in Shanghai and Silicon Valley, the Jiangyin-based firm produces 12-inch mid-end wafers, as well as semiconductor packaging and testing solutions.
