On March 11, the signing ceremony of Jinshajiang Semiconductor Lighting Industrial Park was held in Changzhou, Jiangsu. According to the agreement, a LED R&D and manufacturing base with a total investment of nearly 200 million US dollars will enter the Wujin High-tech Industrial Development Zone.
The semiconductor lighting industry park was invested and established by the GSR Ventures. It has three projects: epitaxial chip, LED bulb and R&D center, which are respectively produced by Jingneng Optoelectronics (Jiangxi) Co., Ltd., Sunsun Light Co., Ltd. and Jinshajiang River. Venture capital funds are responsible for construction.
This time, Jingneng Optoelectronics plans to introduce MOCVD75 units in Wujin High-tech Zone, with a total investment of 99.8 million US dollars, for blue-green optical epitaxial wafers and chip production. Among them, the first phase of registered capital is not less than 35 million US dollars, the introduction of MOCVD25, and plans to be listed overseas before 2014.
Sunsun Light, based in Nanjing, has produced more "ball bulbs" than the equivalents produced by General Electric (GE). The Jinshajiang Venture Capital Fund will inject capital into it and set up a R&D and manufacturing base in Wujin High-tech Zone with a total investment of 100 million US dollars. It is mainly engaged in the development of LED terminal products such as LED bulbs, backlight modules and display systems. Among them, the registered capital of the first phase is not less than 35 million US dollars. It is estimated that the sales income will reach 2 billion yuan by 2013, and the project will be listed overseas before 2014.
Wu Shenjun, Chairman and CEO of Jinshajiang Venture Capital Fund, said: "We are full of confidence in the future of the project. The existing LED industry chain resources in Wujin High-tech Zone provide a broad space for the development of the Jinshajiang Semiconductor Lighting Industrial Park."
Jinsha River continues to invest heavily in betting LED
According to the monitoring data of the High-tech LED Industry Research Institute, as early as 2006, Jinshajiang Venture Capital began to invest in the LED industry in China.
In April 2006, the Jinshajiang Venture Capital Fund led the US Mayfield Fund and Yongwei Investment to jointly invest USD 10 million in Jiangxi Jingneng Optoelectronics. This was considered to be one of the earliest venture capital cases in the domestic LED field. Subsequently, the Jinsha River began to focus on the LED industry with the Jingneng Optoelectronics project as its core.
In June 2007, Jinshajiang once again joined hands with Kaipeng Huaying, Temasek Investment, Mayfield, Yongwei and Investment, investing 40 million US dollars in Crystal Energy.
In October 2008, Jinshajiang Venture Capital and Aurora Ventures invested US$30 million in Beijing Taishixinguang Technology Co., Ltd. Taishi Xinguang was formerly the Beijing Optoelectronic Technology Laboratory of Beijing University of Technology. The lab has more than 30 LED-related patents and has a certain technical reserve for blue LEDs and single-chip white LEDs.
In March 2009, the Nanchang Municipal Government invested 100 million yuan, and Jinshajiang Venture Capital Co., Ltd. invested no less than 300 million yuan. The Jinshajiang LED Industry Fund with a fund size of 400-500 million yuan was formally established. The fund focuses on investing in enterprises located in the Nanchang Jinshajiang LED Industrial Park.
In September 2010, Jinshajiang Venture Capital invested in the LED Semiconductor Lighting Industrial Park project in Maanshan City. The first phase of the project invested 153 million US dollars to build an annual production capacity of 50 million LED bulb production lines.
In December 2010, Jinshajiang Venture Capital, Aurora Ventures and IDG Capital jointly invested US$50 million in Shinecore (Beijing) Technology Co., Ltd. (ShineOn) to jointly create a high-brightness light-emitting diode (HB LED) project. The first phase of the project is the investment of Taisha Xinguang in Beijing in 2008.
At the end of last year, Jinshajiang Venture Capital once again joined hands with International Finance Corporation (IFC), Haiyide Investment Company and Hong Kong Yajie Investment Co., Ltd. to invest 53.50 million US dollars in crystal energy. So far, Jingneng Optoelectronics has obtained the investment amount led by Jinsha River. More than 100 million US dollars.
As of the first quarter of 2011, Jinshajiang has invested more than 200 million US dollars in the domestic LED field.
Since 2014, the LED project has been promoted overseas.
"We have been tracking the LED industry for five or six years. So I dare to invest in Jingneng Optoelectronics. First, because of the disruptive breakthrough in technology, and second, because this product innovation is in line with the international market, and China is only second. In a large but highly unified market in the United States, we believe that this is a high-tech start-up enterprise that is a rare gold development period in China. It can use the power of the market and the competitive advantage of innovation to develop rapidly. Our investors are all International background, strong financial strength, but because of the early entry, the risk is also very large, to do research and development, productization, marketization, but also have a lot of investment, to have patience and execution." Jinshajiang Venture Capital Company Managing Director Wu Shen Jun summed up the process of their investment in Jingneng Optoelectronics.
“When the Jingneng Optoelectronics Industrialization Base laid the first pile, it was when we made great strides toward industrialization.†Pan Xiaofeng, a venture capital partner of Jinshajiang, stressed in an interview with the media earlier.
According to the planning of the Changzhou project, the LED project of Jinshajiang Investment is expected to start to land in the capital market in 2014 and realize investment income.
About Jinshajiang Venture Capital Fund
Jinshajiang Venture Capital currently manages a $700 million fund and has established a long-term strategic partnership with Mayfield Fund (founded in 1969), the "oldest" venture capital fund in Silicon Valley.
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