South Korea’s Mirae Asset Capital has completed a significant 500-million-yuan (approximately $70 million) investment in Beijing-based Grand High-Tech, a leading manufacturer of critical semiconductor equipment. This strategic move strengthens Mirae’s position in China’s rapidly growing chip supply chain amid the country’s aggressive push for semiconductor self-sufficiency.
The investment round was led by state-owned Beijing New Material Fund, with participation from Mirae Asset Capital, Shanghai’s Rui Li Fund, and existing investor Fortune Capital. Founded in 2012, Grand High-Tech specializes in producing dry vacuum pumps essential for semiconductor manufacturing processes including deposition, etching, and diffusion. The company reported remarkable 120% revenue growth in 2023, benefiting from China’s domestic chip industry development under U.S. export controls.
Grand High-Tech’s impressive client portfolio includes industry leaders BYD (the world’s largest electric vehicle manufacturer), CATL (global battery production leader), and Yangtze Memory Technologies (China’s top semiconductor maker). This gives Mirae Asset Capital exposure to multiple high-growth sectors within China’s technology ecosystem.
Jinren Wang, Co-Head of Mirae Asset Capital China, emphasized the investment’s strategic value: “We’re providing not just capital but active support for Grand High-Tech’s technological advancement and global expansion in both semiconductor and solar sectors.” The move aligns with Mirae Asset’s focus on next-generation technologies, following previous investments in AI and renewable energy.
With 42 billion In assets under management, Mirae Asset Capital‘s investment reflects growing confidence in China ′s semiconductor sector. “This provides Mirae valuable access to China ′s protected semiconductor eco system during its crucial self−reliance push, “noted a Hong Kong−based investment banker familiar with the deal. The Chinese semiconductor equipment market is projected to reach 150 billion by 2025, growing at about 20% annually.
Industry sources indicate Mirae may pursue additional China investments in battery technology and clean energy, positioning the firm as a stronger competitor against Western private equity giants like Blackstone and KKR in Asian tech deals. This transaction offers global investors insights into navigating China’s complex semiconductor landscape through established Asian financial partners, particularly valuable amid ongoing geopolitical tensions reshaping global supply chains.
