YF Capital, a private equity firm backed by Chinese billionaire Jack Ma Yun, has taken a minority stake in Shanghai-based memory chip developer InnoStar Semiconductor, according to corporate records.
Hainan Yunfeng Fund Centre, an affiliate of YF Capital, became the chipmaker’s 14th-largest shareholder after acquiring a 2.1 per cent stake, based on a change record dated December 17 on business information platform Aiqicha.
The investment came after Ant Group backed InnoStar in August. Both YF Capital and Ant were founded by Ma, who also founded Chinese e-commerce giant Alibaba Group Holding. Alibaba owns the South China Morning Post.
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Other new InnoStar shareholders included Real Power Capital, an investment firm backed by the Shanghai municipal government, which held 0.4 per cent, and Hong Kong-based Weihua Electronics, with 0.2 per cent, the filing showed.
YF Capital did not immediately respond to a request for comment on Tuesday.
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InnoStar – a domestic developer of resistive random access memory (ReRAM) chips, a type of non-volatile memory that offers lower power consumption and faster data retention – was founded in 2019, according to public information.