Recently, the third generation semiconductor material silicon carbide single crystal substrate manufacturing enterprise -- Hebei Synlight Semiconductor Co., LTD. (referred to as "Synlight Shares") announced the completion of the F round of financing. The scale of this round of financing is 1.5 billion yuan, led by Deep Venture Capital Manufacturing Transformation and Upgrading New Materials Fund (referred to as "Deep Venture Capital New Materials Fund"), Beijing-Tianjin-Hebei Coordinated Development Industry Investment Fund (referred to as "Beijing-Tianjin-Hebei Industrial Investment Fund"), Joint investment by Baoding High-tech Zone Venture Capital Co., LTD. (hereinafter referred to as "High-tech Venture Capital") and Hebei Industrial Investment War New Industry Development Center (hereinafter referred to as "Hebei Industrial Investment").

This round of financing will be used to further accelerate the layout of key projects, build technical barriers, build an enterprise-level ecosystem, and train the third generation of semiconductor industry talents.
This round of investors on behalf of the Beijing-Tianjin-Hebei Industrial Investment Fund believes that: "silicon carbide industry has been included in the national 14th Five-Year Plan and 2035 vision target outline, as well as the Ministry of Industry and Information Technology" 14th Five-Year Plan "industrial science and technology innovation related development planning, strategic significance, the overall growth is good. Synlight shares, as one of the domestic shipments of silicon carbide substrate enterprises, has made certain achievements in catching up with the international advanced silicon carbide production and manufacturing level, as well as promoting the independent control of the industrial chain. Beijing-tianjin-hebei Fund's strategic injection into Synlight shares is conducive to supporting the development of China's wide band gap semiconductor, that is, the third generation semiconductor industry, and driving the whole silicon carbide industry chain to improve the degree of autonomy and control; It will help to promote the joint technological cooperation between Synlight and scientific research institutions and enterprises in Beijing and Tianjin, which has a strong regional industrial synergy effect and fits the strategic positioning of the Beijing-Tianjin-Hebei Fund to serve the adjustment of regional industrial structure.

Investor Profile

Shenzhen Venture Capital New Materials Fund: The Fund is a specific investment vehicle of the National Manufacturing Transformation and Upgrading Fund Share Limited company (hereinafter referred to as the "National Manufacturing Transformation and Upgrading Fund"), which is managed by Shenzhen Venture Capital. With a total scale of 27.5 billion, the fund undertakes the investment task in the field of new materials dominated by inorganic non-metals and cutting-edge new materials. Based on the national strategy, the fund digs deeply into the projects in the direction of the new materials industry to promote the transformation and upgrading of the national new materials industry and high-quality development.

Beijing-tianjin-hebei Industrial Investment Fund: In order to further implement the major national strategy for the coordinated development of the Beijing-Tianjin-Hebei region, and give full play to the guiding and amplifying role of financial funds in the three regions, the people's governments of the three provinces and cities of the Beijing-Tianjin-Hebei region jointly established the Beijing-Tianjin-Hebei Industrial Investment Fund in February 2021. The fund, with an initial size of 4.15 billion yuan, will focus on supporting regional scientific and technological innovation, high-end manufacturing and other related fields.

High-tech Venture Capital: It is a wholly-owned platform company under Baoding High-tech Industry Development Group Co., LTD. (hereinafter referred to as "High-tech Group"), which specializes in venture capital and industrial investment fund management and operation. Established in 2022, with a registered capital of 5 billion yuan, High-tech Group is a high-tech zone management committee in order to further improve, strengthen and expand the leading industry of Baoding High-tech Zone, promote the high-quality innovation and development of the industrial system of high-tech zone, and on the basis of fully drawing on the reform and development experience of domestic development zone construction platform and urban investment listed companies. Focusing on the business philosophy of "industrial investment, industrial investment and industrial service", the group is a large-scale enterprise group for the construction of the development zone on the basis of integrating the resources of the existing enterprises directly under it, improving and promoting the functional sectors of high-tech industry development, and establishing new subsidiaries.

Hebei Industrial Investment: The fund is mainly funded by the People's Government of Hebei Province, the fund management scale of 60 billion yuan, the completed investment of more than 30 billion yuan, is an important industrial investment platform of Hebei Province government. Since its establishment, Hebei Industry Fund has adhered to serving the real economy and major projects, focusing on the development of strategic emerging industries such as "integrated circuit, network security, biopharmaceutical, power equipment, safety and emergency equipment", giving full play to the guiding role of government investment, and increasing investment support for industries with high technology content, large industrial drive, fast industry growth, and green environmental protection. It has made outstanding contributions to the construction of advanced manufacturing clusters.