British-based ARM and China's HOPU-ARM Innovation Fund signed a memorandum of cooperation in Beijing aiming to set up a joint venture in Shenzhen and develop it into an important Chinese holding integrated circuit core intellectual property development and service platform.

HOPU-ARM Innovation Fund was jointly founded by China Investment Corporation, Silk Road Fund, Temasek, Shenzhen Shum Yip Group, Hopu Fund, and ARM. It was officially launched on January 24, 2017. With fund scale of USD800 million, HOPU-ARM Innovation Fund is managed by Hopu Fund and ARM.

ARM will provide its integrated circuit design core intellectual properties, technical support and training to the new JV. Relying on ARM's global innovation ecological system and technical standards and combining the demands of the Chinese market, the new JV will develop and sell various advanced integrated circuit design intellectual property product, covering graphics processing, artificial intelligence, and secure Internet services.

Masayoshi Son, chairman and president of SoftBank Group, said at the signing ceremony that ARM is a partner of Apple and Samsung and it also has more than 100 cooperating partners in China. In 2016, ARM shipped over 17 billion architecture chips. With the establishment of the joint venture, they will make new products together in the future and deliver those products to the entire world through Chinese engineers and enterprises.