Chinese chip designer Hefei Datang Storage draws $49M from state and industrial backers
What's the deal? Hefei Datang Storage TechnologyDealroom has a profile for this one. Try Dealroom →, a Chinese storage controller chip designer, has completed a capital increase that lifts its registered capital to about US$45.5M (roughly $49 million). The round brought in three new shareholders: the state-backed Anhui Guokong Jishi Mixed-Ownership Reform and Upgrade Industry Fund, smart power distribution grid equipment maker HonglidaDealroom has a profile for this one. Try Dealroom →, and fintech firm Hengyin TechnologyDealroom has a profile for this one. Try Dealroom →.
Who backed it? The Anhui fund holds 3.73%, Honglida 1.92%, and Hengyin Technology 0.24%. The trio represents a local state-owned capital platform, an industrial manufacturer, and a listed fintech company — a mix the source frames as "capital plus industry" synergy.
What does it do? Founded in June 2018 and headquartered in Hefei, Anhui, the company develops storage controller chips and secure firmware, along with related secure storage solutions. Its core technical team has more than 20 years of chip experience, with in-house IC design and low-level firmware development. Chairman Zhu Xunqing is the actual controller.
On the fund: The Anhui Guokong Jishi fund has a total size of US$275M (roughly $298 million). It targets mixed-ownership enterprises and strategic emerging industries, including next-generation information technology, aerospace, new energy, new materials, and high-end equipment manufacturing.
Why now? The investment reflects a continued push toward self-reliance across Hefei's storage industry chain. State capital and listed firms are converging on domestic chip design as China works to reduce its dependence on foreign suppliers.
What could go wrong? The deal is still lightly disclosed. A Honglida representative said only that details would come "in the periodic report" and declined further comment; Hengyin Technology had not responded as of the source's press time.
The signal: At roughly $49 million, the round lands in the top third of comparable deals by size — a mid-scale bet rather than a headline raise. It underscores how provincial state funds and industrial players are steadily channelling capital into China's homegrown semiconductor supply chain.
Read more: finance.biggo.com
Image credit: Christiaan Colen
