Wu xiongangs dismissal brings back the inside story: private funds investment in arm IP authorized enterprises

category:Finance
 Wu xiongangs dismissal brings back the inside story: private funds investment in arm IP authorized enterprises


As an IC design enterprise, hengxuan technology shortens the product R & D cycle by purchasing IP authorization, especially the SOC design with high complexity, and uses external IP technology to build its own SoC design platform or develop SOC, which is a common practice in the industry.

Since its establishment in 2015, hengxuan technology has cooperated with arm. In 2018, hengxuan technology received a notification email that arm established and completed the joint venture amour China (also known as arm China) in China in May 2018 to take over all arms business in China.

So in May 2018, the company signed a new authorization with arm and arm China. Among the listed companies in the same industry, AMLOGIC has also signed corresponding agreements with arm China and arm in June 2018.

According to the prospectus of hengxuan technology, alphaetecture fund was established in Hong Kong on July 3, 2019. At this time, hengxuan technology is in the fourth equity transfer, the third capital increase and the fifth equity transfer, and an Chuang pilot, an Chuang technology and alpha have successively participated in the shareholding, holding a total of 4.32% equity of hengxuan technology.

Wu xiongang is the chairman and general manager of anmou China, the actual controller of Shenzhen Anchuang Technology Investment Management Co., Ltd. which is the executive partner of Anchuang navigation and Anchuang technology.

According to the prospectus information, Wu xiongang is also a director of alphature fund. Alphaetecture fund is wholly owned by alphaetectureventurelimitedpartnership, Wu xiongang is the share of general partner, and is one of the voting personnel appointed by the general partner to alphaetectureventurelimitedpartnership.

Masayoshi son, chairman of Softbank, and Simon segars, CEO of arm, also issued a document to long Fenglei, director of Hopu, in which they gave the reason for dismissing Wu xiongang because of breach of contract and the decision to establish alphaearchitecture fund. According to people familiar with the matter, alphaarchitectures fund investment is similar to that of hengxuan technologys company using ARM technology, competing with the same fund of arm and Hopu investment management company.

According to tianyancha, before the establishment of arm China, arm began to invest in the Chinese market. In 2015, it launched incubators, investment management platforms and industrial funds. The core company of the investment platform is Shenzhen Anchuang Technology Investment Management Co., Ltd. and it also established a fund of houan innovation. Houan innovation fund was established in January 2017, with Hopu investment as GP and LP as CIC, silk road fund, Guoxin company, Temasek company, Shenye group, etc.

Alphasetecture, as Wu xiongangs private fund, has nothing to do with arm. Through the investment relationship of hengxuan technology, it can be seen that alphaetecture does participate in arm industry chain enterprises, and forms a certain competitive relationship with the official background of houan innovation.

On June 4, arm China voted 7:1 on the board of directors to remove Chairman Wu xiongang and CEO. As a major shareholder of arm China, arm and Hopu investment also jointly issued a recall statement.

Alan (Wu xiongang) has been reported to have misconduct, mainly financial irregularities, conflicts of interest and so on, one industry source said But the specific reason did not disclose, now it seems that alphaetecture fund or fuse.

Since Wu xiongang holds arms Chinese seal for the legal person of the company, arm may only be able to settle disputes through litigation.

Arm China issued a joint letter of solidarity with Wu xiongang 5 days ago. Allen is a professional with a strong technical background and a well-known leader in the industry, the letter said. Amway Chinas revenue and profits have reached a new high every year, and its business scale has grown rapidly, which has been recognized by many shareholders.

Allen has promoted the establishment of a public platform for integrated circuit design and innovation in Guangdong, Hong Kong, Macao and Dawan District in Shenzhen, and the landing of platforms such as an Chuang accelerator, angel VC Fund, chip design education, incubation service and open-source software in all parts of the country through brainstorming and cooperation with a number of first-class capital, industrial partners and local governments at home and abroad Hundreds of ecological innovation projects have been supported. With the rapid development of Chinas semiconductor industry, we have also made greater contributions to arm and amours business and ecosystem in China by cooperating with external industrial capital to support excellent chip design companies to mature and market faster with early investment. These projects are an important part of the eco strategic deployment of anmou China. Said the joint letter. Source: Wang Wenhua, editor in charge of sci tech Innovation Board daily_ NF5982

Allen has promoted the establishment of a public platform for integrated circuit design and innovation in Guangdong, Hong Kong, Macao and Dawan District in Shenzhen, and the landing of platforms such as an Chuang accelerator, angel VC Fund, chip design education, incubation service and open-source software in all parts of the country through brainstorming and cooperation with a number of first-class capital, industrial partners and local governments at home and abroad Hundreds of ecological innovation projects have been supported. With the rapid development of Chinas semiconductor industry, we have also made greater contributions to arm and amours business and ecosystem in China by cooperating with external industrial capital to support excellent chip design companies to mature and market faster with early investment. These projects are an important part of the eco strategic deployment of anmou China. Said the joint letter.