Xiaomi-backed fund ropes in new LPs to hit $1.4b target

Xiaomi-backed fund ropes in new LPs to hit $1.4b target

FILE PHOTO: The Xiaomi logo is seen at a Xiaomi shop, in Shanghai, China May 12, 2021. REUTERS/Aly Song

An investment fund backed by smartphone maker Xiaomi has hit its target of 10 billion yuan ($1.4 billion) to back companies in the area of integrated circuits.