Chinese ReRAM startup InnoStar Semiconductor has drawn fresh backing from Jack Ma-linked YF Capital, underscoring rising investor confidence in China’s next-generation memory sector and domestic chip supply chain.
Jack Ma-linked fund backs InnoStar
An affiliate of YF Capital, the private equity firm associated with Alibaba founder Jack Ma, has acquired a 2.1% stake in Shanghai-based InnoStar Semiconductor.
The deal makes the YF Capital affiliate the 14th-largest shareholder in InnoStar, according to a change filing dated December 17 on Chinese business information platform Aiqicha.
Strategic push in ReRAM memory
Founded in 2019, InnoStar Semiconductor develops resistive random access memory (ReRAM) chips, a non-volatile memory technology that offers lower power consumption and faster data retention than conventional flash for targeted applications.
The company is regarded as a leading domestic ReRAM player in China and has announced mass production of ReRAM on 28 nm/22 nm process technology, positioning itself among the earliest companies worldwide to industrialize this node.
Growing roster of major investors
In addition to YF Capital, InnoStar Semiconductor has attracted investment from Ant Group, ByteDance and multiple state-linked and institutional funds, reflecting strong interest from both Big Tech and government-backed capital in China’s memory ecosystem.
Other shareholders include Shanghai government-affiliated investors and Hong Kong-based electronics firms, further anchoring InnoStar within China’s broader semiconductor industrial policy.
InnoStar’s comments on the new funding
In previous statements on its financing rounds, InnoStar’s leadership has said the company aims to develop a new generation of memory products, scale ReRAM manufacturing and deepen collaboration with chip designers and foundry partners.
Building on that stance, the company emphasized that the latest strategic investment will help accelerate its roadmap for ReRAM-based storage and computing solutions, strengthen its role in China’s domestic memory supply chain and expand partnerships with leading cloud, AI and consumer device customers.
