JunHe assists in the establishment of the National Integrated Circuit Industry Investment Fund Phase III

Recently, JunHe assisted in the establishment of the National Integrated Circuit Industry Investment Fund Phase III (the "Big Fund Phase III"), which raised a total of RMB 344 billion. This was the largest private equity investment fund ever raised and established in the RMB fund market. This is an important milestone for  the national integrated circuit industry chain as well as for the exploration and innovation of the private equity fund market.

JunHe’s team has provided legal services since 2016 for the establishment, investment, operation and exit of the National Integrated Circuit Industry Investment Fund Phases I and II. JunHe’s team acted as the exclusive legal counsel throughout the establishment of the Big Fund Phase III and provided services including the design and demonstration of the fund management and operation structure. They drafted and negotiated a full set of transaction documents for the fund establishment, designed the internal governance and the institutional documents for the fund and undertook fund investor eligibility screening. They undertook fund registration and filing, compliance analysis for fund investment and operation, assisted in communicating with the competent authorities, and provided other legal consultancy services.

JunHe’s team has market-leading experience after providing legal services for more than 20 large national-level investment funds. In this deal, they provided creative solutions for the client, solved various difficulties and successfully assisted the client in completing the fund establishment. JunHe’s  professional, efficient and innovative service style won wide praise from the competent authorities, the fund preparation group and the fund investors.

Partners WEI, Yingling, WANG, Man (Shelley) and CUI, Jiakun (Kevin) led JunHe’s team in this deal and partner CUI, Jiakun (Kevin) undertook the major work.