Xiaomi is the No. 3 smartphone company in the world behind Apple Inc. and Samsung Electronics Co. An equity investment fund backed by Chinese smartphone maker Xiaomi Corp. launched a second funding round with a group of investors led by the Beijing municipal government, moving closer to its 10 billion yuan ($1.4 billion) target to finance the chip industry. Beijing Xiaomi Zhizao Equity Investment Fund Partnership raised 2.7 billion yuan in the recent round in March, according to filings released by several investors.

https://www.caixinglobal.com/2023-03-08/xiaomi-backed-fund-raises-nearly-14-billion-for-chip-investment-102005775.html

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