Core Insights - Yanchip Microelectronics (Shanghai) Co., Ltd. has recently completed nearly 100 million yuan in angel round financing, led by Navigating New Frontier and Yanyuan Venture Capital, with participation from several other institutions [2] Company Overview - Yanchip Microelectronics was established in 2024 in Shanghai, originating from the Advanced Storage and Intelligent Computing Laboratory of Peking University’s School of Integrated Circuits. The company focuses on high-density storage and AI chip development based on ReRAM technology, building a comprehensive intellectual property system from devices to arrays to chips [3] Use of Funds - The funds from this round will be primarily allocated to three areas: enhancing ReRAM device and process research and development to improve high-density array yield; expanding the AI chip development team for initial customer validation; and establishing an open ecological laboratory to collaborate with upstream and downstream partners to create new domestic storage standards [4] Investment Rationale - The lead partner from Navigating New Frontier highlighted the original technological barriers of Yanchip Microelectronics in the ReRAM sector, noting that the consistency of its devices and array integration has reached the international first-tier level. The multidisciplinary capabilities of the Peking University team in process, design, and commercialization position the company for rapid iteration and scalability, potentially filling the gap in domestic new storage industrialization [5] Investment Perspective - The founder of Shandao Venture Capital noted that this financing coincides with the implementation of the national "Venture Capital Seventeen Articles" and new policies in Shanghai's Pudong district, creating a synergy among government funds, industrial capital, and university research outcomes. Yanchip Microelectronics serves as a benchmark for the transformation of Peking University’s research achievements, validating the patient capital logic of "hard technology." It also provides a replicable model for fund managers to fulfill their responsibilities throughout the investment lifecycle. However, it is emphasized that the commercialization of ReRAM is still in its early stages, requiring continued investment to share in the trillion-level market dividends of storage and computing integration [6]