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Company News: Dado Banato, renowned Silicon Valley Expert and founder of AI Semiconductor Company Wave Computing, visited Shenzhen Capital Group

2017.05.25

Image from Shenzhen Capital Group

On May 24th, Dado Banatao, a well-known high-tech expert in Silicon Valley and founder of Wave Computing, an artificial intelligence semiconductor company, visited Shenzhen Capital Group and Shum Yip Group discussed partnership opportunities. Shenzhen Capital Group Chairman Ni Zewang, President Sun Dongsheng, West Fountain Parallel Fund Chief Partner Li Li, Shum Yip Group Chairman Lu Hua, and President Huang Wei attended the meeting.

Wave Computing has developed an application-specific integrated circuit chip (ASIC) that supports artificial intelligence training and inference. This chip is combined with other components to form a dedicated hardware system that supports artificial intelligence computing, helping many parallel calculations. Compared with traditional chips, the processing parallel computing capacity is greatly improved, and the energy consumption is significantly reduced. In April 2017, Shenzhen Capital Group and West Fountain Parallel Fund led the investment in Wave Computing, and Samsung Capital of South Korea also participated in the investment.

Dado Banatao is the founder and chairman of the board of directors of Wave Computing. He invented several important products that promote the development of the semiconductor chip industry, including the first 10 Mbit Ethernet CMOS silicon coupler data link control and transceiver, IBM The first logic chip system in desktop computers PC-XT and PC-AT.

At the symposium, Derek Meyer, President of Wave Computing, and Chris Nicol, Chief Technology Officer, introduced the development of Wave Computing and its significant impact on the development of the industry. Relevant persons in charge of Shenzhen Capital Group, Shum Yip Group, and West Fountain Parallel Fund introduced the development of their respective companies.

Ni Zewang, chairman of Shenzhen Capital Group, said that Wave Computing's prospects for developing the company and the industry are exciting. Shenzhen is one of the cities with the best entrepreneurial and investment environment in China and has many similarities with Silicon Valley in the United States. Shenzhen's economy has maintained good growth, and the electronic information industry is now well developed and supported by a mature infrastructure. It is expected that Wave Computing can settle in Shenzhen for development.

Chairman Ni Zewang said that Shenzhen Capital Group is one of China's best venture capital institutions, with rich experience and a spectacular track record in industry discovery, incubation, and cultivation, fundraising, etc. As a large comprehensive enterprise group, Shum Yip Group owns a science and technology park rich experience in development, management, and operation, and a good brand. Shenzhen Capital Group and Shum Yip Group have established a strategic partnership to build domestic and foreign high-tech innovation industrial parks. The first phase of the industrial park to be built in Shenzhen is a semiconductor chip industrial park. Upon completion, they will be open to both domestic and foreign high-tech innovation opportunities.

In the afternoon of the same day, Dado Banatao and his entourage visited Shum Yip Uptown Science and Technology Park and Nanshan Science and Technology Park. The three parties held another symposium in Shum Yip Group. He Jingcheng, chairman of Shenzhen Science and Technology Park, Li Li, chief partner of West Fountain Parallel Fund, and Zhu Guoqiang, chief operating officer of Shenzhen Holdings, attended and accompanied the visit.