BYD Semiconductor closes RMB800m Series A+ round, 20 days after last round

BYD recently issued an announcement about the introduction of strategic investors in its holding subsidiary BYD Semiconductor, which completed the Series A+ round of financing. Investors in this round totaled an amount of 800 million yuan.

BYD recently issued an announcement about the introduction of strategic investors in its holding subsidiary BYD Semiconductor, which completed the Series A+ round of financing. Investors in this round totaled an amount of 800 million yuan.

including Sequoia Capital China, CICC Capital, SDIC Venture Capital, Himalaya Capital, to complete a RMB1.9 billion series A round financing. This round of investors collectively obtained about 20.21% of the equity shares after BYD Semiconductor’s capital increase and expansion.

Investors in this financing round obtains 7.84% equity share of BYD Semiconductor after the capital increase and share expansion. After the completion of this capital increase and share expansion, the target registered capital of the company is 408 million yuan.

After completing the latest deal, BYD currently holds 72.3% equity in BYD Semiconductor. BYD Semiconductor is still included in the scope of BYD’s consolidated statements.

On April 14 this year, BYD issued an announcement saying that it will reorganize its wholly-owned subsidiary BYD Semiconductor and introduce strategic investors. Only 42 days later, BYD Semiconductor closes its Series A financing round: On May 26, the first announcement of BYD Semiconductor’s introduction of strategic investors was released. Only 20 days thereafter, the second announcement of BYD Semiconductor’s introduction of strategic investors was released.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/20/byd-semiconductor-closes-rmb800m-series-a-round-20-days-after-last-round/.

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