On January 31, 2020, SMIT Group Limited, Shenzhen Hongtai Giga Investment Fund (Limited Partnership), and Shenzhen Giga Design Automation Co., Ltd., jointly signed the “SMIT Group Limited’s Capital increase Agreement for Shenzhen Giga Design Automation Co., Ltd.” SMIT Group will increase its capital by RMB 90 million yuan to Giga. After the increase, Shenzhen Hongtai Giga Investment Fund (Limited Partnership) holds 90.91% equity of Giga, and SMIT Group holds 9.09% equity of Giga.
Founded in January 2018, Shenzhen Giga Design Automation Co., Ltd. is a high-tech company, who is dedicated to research & development, production, and sales of integrated circuit electronic design automation (EDA) in China. GIGA aims to accomplish the deployment of key nodes, by independent research, technology importing and co-development, to build up a complete digital IC EDA platform and fulfill the technical breakthrough in China's semiconductor industry. Since its inception, Giga has received strong support from the government. The increase not only means deeper cooperation between SMIT Group and investment funds but also injects the promoter for Giga to further develop the whole process EDA system.