Shanghai has raised the registered capital of its Integrated Circuit Industry Investment Fund more than 11 times. The fund's third phase, called Shanghai IC Fund III, grew by 5.5 billion yuan ($794 million) to reach a total of 6 billion yuan. Two new investors joined: Shanghai State-owned Capital Investment Leading IC Private Equity Investment Fund with 4.5 billion yuan and Pudong Venture Capital with 500 million yuan. Established in 2016, the first two phases each had 24 billion yuan in capital, so the new fund may see further growth. Shanghai IC Fund has backed over 20 local chip companies. Key names include wafer makers Semiconductor Manufacturing International Corp (SMIC) and HLMC, plus ACM Research Shanghai, which supplies semiconductor cleaning tools. This fund is part of a wave of local Chinese government efforts to boost domestic chip industries. Beijing and Shenzhen have their own funds focusing on long-term support for the sector's challenges. This move fits into China's broader goal to become more self-reliant in tech and semiconductors.