E-Town Capital, Hua Capital, Prosperity Investment and CAS Investment Management Co., Ltd visited Morrison Foerster to research the ISSI and Omnivision projects. Those two projects are able to access 2015 overseas fund pooling.

They visits Morrison Foerster.

On Oct 24, CEO of E-Town Capital Wang Xiaobo, and Hua Capital representative Huang Weixu, Liu Xinyu of Prosperity Investment, and CAS Investment Management Co., Ltd's Wang Yan went to Morrison Foerster to discuss an overseas fund pooling case: CFIUS.

Charles C. Comey, a partner of Morrison Foerster, shared his experience in China-US M&As, the Committee on Foreign Investment in the United States, and auditing of the overseas pooling semiconductor project.

E-Town Capital CEO Wang Xiaobo and Morrison Forester's Charles C. Comey.

According to Morrison Foerster, Chinese investors rank first in all CEFIUS projects. In 2012, there were 23 placements, in 2013 there were 21, and in 2014, there were 24. Nearly 75 percent of all declarations were in manufacturing, especially of semiconductors; finance, information and the service industry. Although CEIUS pays more attention to projects in which Chinese acquire American technology, not every project will be rejected. In 2015, ISSI and Omnivision projects were audited successfully. 

Semiconductors have recently become the core part of all electronic devices and systems. American government will strictly prohibit sale of American core technologies, especially in overseas fund pooling cases.

E-Town Capital, Hua Capital, Prosperity Investment and CAS Investment Management Co., Ltd also did research on ISSI projects and Omnivision projects in 2015, which attracted tremendous attention.

Representatives from E-Town Capital, Hua Capital, Prosperity Investment and CAS Investment Management Co., Ltd also did research on ISSI. 

The founder of ISSI, Li Xuemian, introduced ISSI’s history and future plan, and discussed the development layout and marketing strategies in China. ISSI is an integrated circuit design enterprise, established in 1998. It focuses on automotive, network communication, industrial, medical and consumer digital electronics.

E-Town Capital in cooperation with other investment enterprises signed an acquisition agreement with ISSI in March, 2015, and obtained CFIUS's approval. It was the first example of overseas fund pooling for Beijing-Shanghai capital.

Omnivision COO Henry Yang introduced that company's history, advancing technologies, core market and marketing plan. Omnivision was founded in 1995, and was listed in July, 2000. It is the leading digital images solution supplier. Its CMOS image chip is widely used in consumption and industrial areas, such as smartphones, pads, laptops, cameras, recreation equipments, security systems, automation and medical systems. Eighty percent of Omnivison’s business is from the Chinese market.

In August of 2014, Hua Capital, in participation with E-Town Capital, made an unconditional cash offer to Omnivision. In May of 2015 this acquisition was approved by CFIUS. On Jan 28 of this year Omnivision was delisted from NASDAQ.

With the development of big data and the Internet of things, China needs more semiconductor devices. The success of ISSI and Omnivision encourages the development of semiconductor industries in China.

This was the first investigation of the Beijing Venture and Investment Alliance Integrated circuit specialty committee. On Oct 22, the China-American industries and technologies investment summit and the 25th annual meeting of the Chinese American Semiconductor Professional Association were held in Silicon Valley. E-Town Capital is the founder of the Integrated circuit specialty committee and a participant in the ISSI and Omnivision projects; it will support the alliance in its communications with Chinese and American semiconductor industries.