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1998年1月,上海华虹微电子集团和美国华登国际投资集团、日本野村证券公司等共同投资940万美元,在美国硅谷组建新涛半导体公司,并在上海漕河泾开发区设立新涛科技(上海)有限公司。3年来,公司成功开发了一系列具有国际先进水平的集成电路产品,2000年销售额达到370万美元。2001年4月3日,美国IDT公司又以8500万美元合并了新涛科技(上海)有限公司。这标志着上海华虹微电子集团海外风险投资首战告捷。像这样国有企业参与海外投资的IT企业被并购而实现国有资产大幅增值的范例,在国内风险投资业极为少见。这就给风险投资业界深深的思索:风险投资的退出路径何在?
January 1998, Shanghai Huahong Microelectronics Group and the United States Walden International Investment Group, Nomura Securities Co., Ltd. of Japan jointly invested 9.4 million US dollars in the United States to form Xintao Silicon Valley Silicon Company and set up in Shanghai Caohejing Hi-tech Development Zone Tao new technology (Shanghai Co., Ltd. In the past 3 years, the company successfully developed a series of IC products with world advanced level and achieved sales of 3.7 million US dollars in 2000. On April 3, 2001, IDT Company of the United States merged Xintao Technology (Shanghai) Co., Ltd. with USD 85 million. This marks the victory of Shanghai Huahong Microelectronics Group overseas venture capital victory. As such, the example of state-owned enterprises participating in overseas investment in mergers and acquisitions to realize the substantial appreciation of state-owned assets is extremely rare in the domestic venture capital industry. This gives the venture capital industry deep thought: Venture capital exit path?