Jack Ma-backed YF Capital takes stake in Shanghai memory chipmaker InnoStar

YF Capital, a private equity firm backed by Chinese billionaire Jack Ma Yun, has taken a minority stake in Shanghai-based memory chip developer InnoStar Semiconductor, according to corporate records. Hainan Yunfeng Fund Centre, an affiliate of YF Capital, became the chipmaker’s 14th-largest shareholder after acquiring a 2.1 per cent stake, based on a change record dated December 17 on business information platform Aiqicha. The investment came after Ant Group backed InnoStar in August. Both YF...