Chinese Chip Conglomerate Tsinghua Unigroup Secures State-Backed Investment


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Tsinghua Unigroup Co., the heavily indebted Chinese chip conglomerate, said a consortium led by two state-backed semiconductor venture-capital firms would become its strategic investor. The deal is the latest step in Unigroup’s efforts to restructure its assets after a creditor [sought its bankruptcy](// in July. Unigroup, once hailed as China’s semiconductor champion, built its business empire over the last decade through a series of acquisitions, [but defaulted](// on billions of dollars worth of bonds over the past year. The consortium is led by the Beijing Jianguang Asset Management Co., known as JAC Capital, and Wise Road Capital, Unigroup said in...