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Investments

39

Portfolio Exits

7

Funds

2

About China Integrated Circuit Industry Investment Fund

China Integrated Circuit Investment Industry Fund aims to support the growth of the IC industry in China and enable the integration of the IC supply chain's ecosystem there. With shareholders including China's Ministry of Finance, China Development Bank and China Mobile Communications Corporation, the CICF has investments in developers of semiconductor technologies, an area of national strategic interest to the Chinese government.

China Integrated Circuit Industry Investment Fund Headquarter Location

Beijing, Beijing,

China

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Latest China Integrated Circuit Industry Investment Fund News

Why Founder of Slutty Vegan Pinky Cole Says Raising a Big Fund Should Be About More Than Just Money

May 9, 2022

Vegan food phenom Pinky Cole chose investors who would allow her creative freedom, as well as support for her company's wide-ranging philanthropic initiatives. The grand opening of Slutty Vegan in 2018. Photo: Courtesy company When Pinky Cole launched Slutty Vegan in 2018 as a fix for her own late-night cravings, she had no idea it would become a fast-growing, pandemic-proof cultural phenomenon. Its revenue grew to $4 million within the first six months of its grand opening. Now she has four restaurants and plans to open a new one every month this year thanks to a $25 million series A investment round, led by Danny Meyer's Union Square Ventures and Richelieu Dennis's venture firm New Voices. Here, the 34 year-old Atlanta-based entrepreneur explains why she decided to take on money for the first time and offers some choice advice for founders looking to do the same. --As told to Brit Morse  Many investors have been trying to approach me about funding and I've always closed the door, because we didn't need them. We were really serious about looking for a strategic partner and we wanted to make sure that it was the right person because the business is so unique. We wanted people who really cared about more than just money. I also needed to feel good about it. I mean, you know, I'm human. So of course I had concerns about taking on investors, but I'm not going to dwell on it. I've always been a hustler, a natural born hustler and either way I'm going to figure it out. What changed my mind about taking investment was our supply and demand issue. The demand was too high for the supply. People really love us, we have a cult following. As soon as we post an Instagram flier about launching in a new city, it feels like the whole damn city shows up. To keep up, we needed more than money, we needed strategic resources to be able to help us to scale. During the pandemic we got super creative. When I realized that labor problems started to arise, I provided life insurance for all of my staff members. I made it available to everyone, even crew members. If they work 40 hours a week, they get benefits. And then we raised everyone's pay and offered phantom equity to employees who were at the company for at least a year. So those little things alone really helped to incentivize employees, and they were a way for me to be able to overcome some of the challenges that have happened through the pandemic. This is non-traditional advice. Our goal is not to make the investor happy, it's to make the consumer happy. As long as you can make the consumer happy, you will have a continuously growing and thriving business. That's a part of the reason why we've been so successful, because I put the customer first. It's important to me to make sure that this business is not defined by money. As long as you show up, and you're intentional and you're mission driven, and make the people happy and give them a good experience, everybody's gonna win. The bills are going to get paid, and investors will see a return on investment. Before you lay in bed with any investors, they have to know that you still want to have creative freedom. I was very clear on that when I decided to take on investors. I'm not your average CEO. I'm like out of the box. I cuss a little bit, but I mean well and people love me for that authenticity, and that can't change. You've got to continue to be yourself and take on investors because you want strategic resources, not just because you need money, because if you're doing it just for money, it will not work. I am a philanthropist, I watched my mother and everybody grow up, give and get nothing in return, and she did it out of the kindness of her heart. Now, as an adult woman, it feels so good to be able to use my resources to help other people and provide them with an opportunity to give them a safe space. And I've done that at the foundation. [Ed. Note: Cole refers to the Pinky Cole Foundation , founded in 2019, to support people of color. ] We've paid the balances of 30 college students so that they can graduate. When Rayshard Brooks was murdered in the Wendy's parking lot, we provided life insurance for the family and a brand new car. We've given fruits and vegetables and paid the rents of local businesses in the area. We've given life insurance to black men in Atlanta who make $30,000 or less. When people see that you are not only building a profitable company, but you are building an ecosystem, people respect that. They continue to want to support you. It feels so good to know that level of growth can come beyond money, and funnel back out to our communities. One thing that attracted our investors to the business was my philanthropy, right. Obviously, they love the idea of Slutty Vegan, but the community element was something they especially wanted to be aligned with. I'm so grateful for my business, because Slutty Vegan has opened doors that I can only dream of. It makes me emotional all the time. When I was a kid, I always said I'm gonna be famous. I felt it as a kid, I just knew that I was different, that I wasn't designed to live a regular life. And now that I'm grown, and I've gotten all of it, and everything that I've spoken over, my life has really come to pass, and I'm just like, damn, like, these are all the things that I said as a little girl. When the money hit my back account I just knew that any idea in the world that I have I can do. I have no limitations. Can you imagine? May 9, 2022

China Integrated Circuit Industry Investment Fund Investments

39 Investments

China Integrated Circuit Industry Investment Fund has made 39 investments. Their latest investment was in Yunsilicon as part of their Seed VC - II on April 4, 2022.

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China Integrated Circuit Industry Investment Fund Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/7/2022

Seed VC - II

Yunsilicon

Yes

5

4/2/2022

Unattributed

Changxin Jidian

Yes

1

11/22/2021

Seed VC

Hejian Industrial Software

$109.6M

Yes

1

11/16/2021

PIPE

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10

10/26/2021

Series C - II

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10

Date

4/7/2022

4/2/2022

11/22/2021

11/16/2021

10/26/2021

Round

Seed VC - II

Unattributed

Seed VC

PIPE

Series C - II

Company

Yunsilicon

Changxin Jidian

Hejian Industrial Software

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Amount

$109.6M

New?

Yes

Yes

Yes

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Co-Investors

Sources

5

1

1

10

10

China Integrated Circuit Industry Investment Fund Portfolio Exits

7 Portfolio Exits

China Integrated Circuit Industry Investment Fund has 7 portfolio exits. Their latest portfolio exit was SmartSens Technology on May 20, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/20/2022

IPO

$99M

Public

5

4/20/2022

IPO

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$99M

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10

4/4/2022

Acq - Fin

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$99M

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10

1/6/2022

IPO

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$99M

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10

11/12/2021

IPO

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$99M

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10

Date

5/20/2022

4/20/2022

4/4/2022

1/6/2022

11/12/2021

Exit

IPO

IPO

Acq - Fin

IPO

IPO

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Public

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Sources

5

10

10

10

10

China Integrated Circuit Industry Investment Fund Fund History

2 Fund Histories

China Integrated Circuit Industry Investment Fund has 2 funds, including China Integrated Circuit Industry Investment Fund II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

7/26/2019

China Integrated Circuit Industry Investment Fund II

$29,000M

12

5/1/2018

China Integrated Circuit Industry Investment Fund I

$99M

10

Closing Date

7/26/2019

5/1/2018

Fund

China Integrated Circuit Industry Investment Fund II

China Integrated Circuit Industry Investment Fund I

Fund Type

Status

Amount

$29,000M

$99M

Sources

12

10

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