Zhu Yiming, chairman of upcoming IPO candidate ChangXin Memory Technologies (CXMT), is also the founder, controlling shareholder, and chairman of publicly listed company GIGADEVICE (03986). He holds a bachelor's and master's degree from Tsinghua University, a second master's from the State University of New York at Stony Brook, and worked in Silicon Valley for years before returning to China in 2005 to found GIGADEVICE.

Under Zhu's leadership, GIGADEVICE grew into a global top-tier NOR Flash design firm, but his ambitions extended far beyond. In 2016, he founded CXMT. While numerous Chinese media outlets have covered Zhu's achievements after returning to China, this article focuses on his lesser-known experiences in the United States.

Several key figures played pivotal roles: Li Jun, Deng Feng, Zhou Shungui, Xue Jun, and Luo Zhuo. Li Jun, a Tsinghua alumnus, former director of the Tsinghua Information Research Institute, and co-founder of the Tsinghua Entrepreneur Group (TEG), introduced Zhu to several Tsinghua investor alumni, including Deng Feng and Zhou Shungui.

Deng Feng, a Tsinghua alumnus and founder of venture capital firm Northern Light Venture Capital, was GIGADEVICE's seed investor. Northern Light's fund also later invested in the company. Zhou Shungui, an angel investor who was not a Tsinghua alumnus, heavily invested in Tsinghua-linked entrepreneurs. Together, Zhou and Deng contributed $10,000 and $50,000, respectively, forming the initial startup capital for GIGADEVICE.

Xue Jun, a Tsinghua alumnus and then-general manager of Tsinghua Science Park Technology Asset Management Co., learned about Zhu's startup idea during a visit to Silicon Valley. He convinced Zhu to return to China and facilitated an investment from Zhongguancun Venture Capital. Later, Xue became a founding partner of TusPark Ventures, which also invested in GIGADEVICE. Luo Zhuo, a Tsinghua alumnus and then-general manager of Tsinghua Science Park Incubator, handled the company's registration, relocation, office setup, and even its Chinese name.

To summarize the relationships: When Zhu Yiming planned to start the company, he approached TEG. Core co-founder Li Jun coordinated efforts, raising a total of $920,000 in seed funding to launch the venture in Silicon Valley. Xue Jun facilitated Zhu's return to China, and together with Luo Zhuo, relied on Tsinghua Science Park to provide on-the-ground support. Deng Feng founded Northern Light, and Xue Jun founded TusPark Ventures, both continuing to support GIGADEVICE.

Why did Zhu seek funding from alumni? Initially, he approached mainstream Silicon Valley dollar funds like Sequoia Capital and Kleiner Perkins, but was universally rejected. These institutions were skeptical that a Chinese entrepreneur could succeed in chip design. Their rejection paved the way for Tsinghua alumni involvement, ultimately leading to Zhu's return to China.

After GIGADEVICE's IPO, several of these individuals made multiple donations to Tsinghua University. When Northern Light sought to secure Series A funding, Deng Feng pledged to donate all his personal angel investment returns to Tsinghua, a promise that convinced Zhu to agree to his allocation request.

This spirit of mutual support among Tsinghua alumni also drove the transformation of TEG into the Tsinghua Entrepreneur and Executive Club (TEEC), which later merged with the Tsinghua Entrepreneur Alumni Network (TEAN). What began as a niche community of overseas Tsinghua entrepreneurs evolved into a private industrial alliance supporting China's hard-tech self-sufficiency.

While these Tsinghua alumni were working together, an American company called ISSI attempted a hostile acquisition of GIGADEVICE. During the 2008 global financial crisis, GIGADEVICE faced a severe cash crunch. ISSI, a US-based memory chip company, proposed acquiring the entire company for $10 million. Zhu Yiming flatly refused. Xue Jun and Luo Zhuo made a quick decision, with TusPark Ventures leading a $2.36 million investment that helped GIGADEVICE survive the crisis.

Time brought a remarkable reversal. In 2015, ISSI was taken private by a Chinese consortium and placed into a holding platform, Beijing Silicon. In 2016, GIGADEVICE planned to acquire Beijing Silicon/ISSI but was unsuccessful due to external factors. The target was ultimately acquired by Beijing Ingenic. No matter - a general on the march does not chase small game.

Zhu Yiming subsequently devoted almost all his energy to CXMT, leading it to become a national champion and a flag-bearer in breaking foreign monopolies. Congratulations to CXMT and to Zhu Yiming. (Photo shows Zhu Yiming in the United States.)