HOPU-ARM Innovation Fund officially launched
ARM and HOPU Investments have launched the HOPU-ARM Innovation Fund with investments from a leading Chinese sovereign wealth fund and international and domestic Chinese investment institutions and companies. The fund combines the technical prowess of ARM's global ecosystem of partners and HOPU's investment expertise. The aim is to invest in emerging technology companies and startups in China and globally, to accelerate the development and deployment of emerging applications in areas such as the Internet of Things (IoT), autonomous vehicles, cloud computing, big data and artificial intelligence (AI).
In the past decade, the number of ARM®-based chips shipped by Chinese partners has risen 114x and ARM now has more than 200 local partners in China. This fund is deepening ARM's strong roots in the region and the company continues to build an open innovation ecosystem that covers almost all aspects of the Chinese electronics information industry.
The HOPU-ARM Innovation Fund is a key part of ARM's commitment in China, enabling continued investment to support ARM technology-based innovation with a particular focus on AI and the IoT. Combining the expertise and insight of the finance and technology sectors, this fund aims to help the most promising technology companies accelerate their time-to-market and enhance their global product competitiveness.
"IoT and AI are core technologies in the next wave of computing and China is helping to drive the rate of innovation in these fields," said Allen Wu, executive vice president and president of Greater China, ARM. "ARM China's long-term vision is to work closely with local industry to build an innovative open ecosystem offering core technologies with global capability. By opening up this ecosystem, along with financial services from the HOPU-ARM Innovation Fund, we will enable local companies to make rapid advances in the next wave of smart devices, big data and AI to help propel the evolution of China's information technology industry."
"ARM-based chips are shipped by ARM partners into billions of connected products, enabling consumers and businesses around the world to deliver industry-leading solutions," said Sunny Li, Managing Partner and Chief Investment Officer of HOPU-ARM Innovation Fund. "The HOPU-ARM Innovation Fund will utilize the strength of the ARM ecosystem and its core technology as well as HOPU's rich experience and expertise in investments, enabling local companies to pursue scientific and technological innovation and embrace the next wave of the technology revolution."
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