Yahoo Finance Qatar Investment Authority Plans Ardian Semiconductor Investment
(Bloomberg) -- The Qatar Investment Authority plans to make an anchor investment in Ardian Semiconductor, a fund set up by French private equity firm Ardian to invest in the semiconductor industry across Europe.
Most Read from Bloomberg
Trump Vows ‘Day One’ Executive Order Targeting Offshore Wind
Tesla Rehires Some Supercharger Workers Weeks After Musk’s Cuts
GameStop Shares Soar as ‘Roaring Kitty’ Revitalizes Retail Frenzy
Macron Puts French Banks in Play With Plan to Transform Europe
China to Start $138 Billion Bond Sale on Friday to Boost Economy
The Qatar sovereign-wealth fund said the move reflects its “belief in the pervasiveness of semiconductors in the world economy, and their impact on digital and green transformations across key sectors such as artificial intelligence, mobility or consumer technology.” It didn’t disclose terms of the commitment.
QIA has been increasing its tech investments, participating in and leading funding rounds by companies as the country seeks to diversify its economy. The fund already invested in Kokusai Electric Corp., a semiconductor-manufacturing company, and took a minority stake in that firm last year.
Read More: Qatar’s $450 Billion Wealth Fund Shifts From Trophies to Tech
“Semiconductor and semiconductor supply chain remain an important investment area for QIA across all regions,” it said in the statement.
Ardian, which oversees or advises on $164 billion of assets, launched its semiconductor platform with a goal to be the “partner of choice in the European semiconductor value chain,” offering capital solutions and operational expertise, it said on its website. Demand for semiconductors is expected to double over the next decade, opening up vast opportunities especially in Europe, it said.
Most Read from Bloomberg Businessweek
Cheap Prison Labor Is Keeping People Locked Up Longer, Suit Alleges
‘The Caitlin Clark Effect Is Real,’ and It’s Already Changing the WNBA
©2024 Bloomberg L.P.
