Qatar’s sovereign wealth fund is looking to tap into the semiconductor industry in France and the rest of Europe.

The Qatar Investment Authority (QIA) is planning to anchor an investment commitment in Ardian Semiconductor, a fund established by France-headquartered private equity investment company Ardian.

The move is in line with QIA’s efforts to work with diverse businesses that are at the forefront of innovation, the statement said.

It also demonstrates the fund’s belief in the “pervasiveness of semiconductors in the world economy”, as well as their impact on digital and green transformations across various sectors.

“Semiconductor and semiconductor supply chain remain an important investment area for QIA across all regions,” the statement said.

Last year, QIA acquired a minority stake in Japan’s Kokusai Electric Corporation through its subsidiary company, Qatar Holding, to tap into the growing semiconductor device market.

(Writing by Cleofe Maceda; editing by Seban Scaria)