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Caixin

Another 'Big Fund' honcho falls under corruption probe

Authorities detain Ren Kai, vice president of Sino IC Capital

The 'Big Fund' was set up in 2014 with 130 billion yuan in capital from the Ministry of Finance, China Tobacco, China Mobile and China Development Bank.

Another senior executive of a general partner of China's top semiconductor investment fund was placed under investigation, joining a growing list of executives brought down by an unfolding anti-corruption crackdown that is sweeping the country's semiconductor industry.

Ren Kai, vice president of Sino IC Capital Ltd., was detained by authorities Thursday morning, several people familiar with the matter told Caixin.

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