PUBLISHED ONOctober 26, 2017 6:52 AM
Walden CEL Global Fund I will concentrate on investing in business entities along the semiconductor and electronic information supply chain including but not limited to microchips, artificial intelligence, as well as hardware and software integration. With a target size of USD500 million, the Fund plans to leverage CEL's strength in cross-border investment and capital market operations as well as Walden's 30 years of accumulated semiconductor sector investment and fund operation experience. It is expected to make investments and initiate M&As in notable projects in global semiconductor area at the growth and maturity stages, realising potential returns both from the projects' technological developments and capital market movements. In addition, the Fund will create synergistic effects by importing the high-end technology and thriving business models of its portfolio companies into the Chinese market and augmenting CEL's project sources in mainland China. The Fund also plans to contribute to technological improvement and development in China's semiconductor industry.
According to the Semiconductor Industry Association (SIA), the total market revenue of the global semiconductor industry has reached USD338.9 billion in 2016, in which China has accounted for USD150 billion. On the demand side, China represents nearly half of global consumption and has established its leadership in market demand, Although American and European companies are still dominant in the core processes of state-of-the-art chip design, the processes for heavy asset manufacturing, equipment for upstream and downstream industrial chains, and packaging testing are increasingly relocating to Asia and especially China, which has gradually developed from a significant demand-side market to a technology and product supplier for the semiconductor industry - a trend that implies strong sector investment opportunities in future. The semiconductor industry, a fundamental support sector for the booming development of cloud computing, the internet of things, artificial intelligence and 5G networks, is expected to experience considerable increase in demand, while technological development in artificial intelligence is anticipated to encourage significant upgrades among more traditional industries. One of Walden CEL Global Fund I's key investment focuses will be innovative companies that drive technological advances with promising business applications.
About China Everbright Limited
China Everbright Limited (CEL, stock code: 165.HK) was established in Hong Kong in 1997 and is China's leading cross-border investment and asset management company. Its parent company is China Everbright Group. CEL manages private equity funds, venture capital funds, industry funds, mezzanine funds, parent funds, fixed income and equity funds. The bank utilises strong private capital and cultivates a number of high-growth-potential enterprises together with its investors. While closely following the development requirements of Chinese companies, it also seamlessly merges the best in overseas technologies with the Chinese market, providing multi-faceted service to Chinese clients involved in overseas investment.
As at the end of June 2017, CEL managed 38 funds and completed fundraising efforts in the amount of HKD 106.6 billion. Through both proprietary funds and the funds it manages, CEL has invested in companies both in China and globally, including China UMS, GDS, Goldwind, CECEP Wind-power Corporation, Nanjing Gaosu Chuandong, HC SemiTek, Beijing Genomics Institute, Betta Pharmaceuticals Co., Ltd., Beingmate, Focus Media, iQiYi, Miaopai, Albania Capital Airport, Wish and BEP. It has invested in a total of over 300 companies, covering fields including real estate, pharmaceuticals, new energy, infrastructure, advanced technology, high-level manufacturing, financial technology and cultural consumption. Of these, more than 150 companies have been listed in China or overseas, or were listed and have withdrawn due to mergers and acquisitions.
CEL is the second-largest shareholder of Everbright Securities (stock code: 601788.SH, 6178.HK) and a strategic shareholder of China Everbright Bank (stock code: 601818.SH, 6818.HK). It is also the largest shareholder of Shanghai Jiabao Industry & Commerce Limited (stock code: 600622.SH). On the Hong Kong listing, it is the largest shareholder of China Aircraft Leasing Group Holdings Limited (stock code: 1848.HK). On the Singapore listing, it is the second-largest shareholder of Ying Li International Real Estate Limited (stock code: 5DM. SGX). CEL and its subsidiary companies currently have offices in Hong Kong, Beijing, Shanghai, Shenzhen, Tianjin, Singapore and Dublin.
CEL became one of the first Hong Kong stocks to be traded following the launches of the Shanghai-Hong Kong and Shenzhen-Hong Kong Stock Connect programmes in April 2014 and December 2016.
CEL adheres to the motto "The Power to Transform". With a firm footing in Hong Kong - a true bridge between east and west - the Group is well positioned to take advantage of the long-term opportunities presented by changes in the Chinese market, respond flexibly, and become a leader in Chinese cross-border investment and asset management. For more information about CEL, please visit www.everbright.com.
About Walden International Group
With a humble start of USD3 million, the hard work of our team and the support of investors, Walden is now a top tier VC firm with cumulative capital commitments totaling USD2.6 billion. Spanning geographies from India and Israel to Taiwan, Singapore and mainland China with a sharp focus on disruptive technologies and creating long term value for investors, Walden has facilitated the founding, growth and success of hundreds of high-tech companies across Asia. To date we have had 101 IPOs on 15 global exchanges and 71 M&As, such as Little Swan, Creative Technology, Mindray, Sina, DangDang, AutoNavi, IKang, SMIC, and some more recent companies like DJI, Best Logistics, and China Internet Holdings (Meituan/Dianping). Our targeted investment sector includes semiconductors, Internet and digital media, healthcare, automotive, and clean technology. In Silicon Valley, venture investments in the semiconductor industry have been declining drastically over the past few years. Walden views it as another opportunity to execute its "contrarian" strategy. In fact, Walden increased its investments in semiconductor companies and achieved great results in recent years in several portfolio companies such as Ambarella, Silergy, and GigaDevice. For more information about Walden International, please visit www.waldenintl.com.
For enquiries, please contact:
Mr Zhang Ye
Tel: +86 10 8349 6828 (Office); + 86 134 2611 7307(Cell)
Email: Zhangye@ebpcapital.com
Ms Fan Wenhan
Tel: +86 10 8349 6899 (Office); + 86 138 1176 5163 (Cell)
Email: Wenhan.Fan@everbright.com
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