Private investment firm Ardian has raised €1 billion ($1.1bn) for its Ardian Semiconductor fund, a new dedicated private equity strategy dedicated to the semiconductor value chain.

The €1bn platform includes almost €700m ($780m) of fund commitments alongside co-investments, Ardian said in a statement.

Ardian Semiconductor was established via a strategic partnership with Silian Partners to invest in companies across the semiconductor value chain that have “scalable potential.” The fund is primarily targeting opportunities within Europe, with additional focus across North America and Asia.

The fund has already invested in four companies: Vsora, a French fabless semiconductor company; centrotherm, a German firm designing and manufacturing thermal processing equipment for chips; Synergie CAD, a French firm developing advanced test interface systems for chip companies; and Ion Beam Services, a French semiconductor equipment and services company.

“Semiconductors are a highly specialized market where expertise is critical to identifying the strongest opportunities. This successful fundraise demonstrates the strength of Ardian’s specialist strategy, which is grounded in detailed technological analysis, a disciplined approach to opportunity selection and close partnerships with management teams to support their growth,” said Lise Fauconnier, co-head of Ardian Semiconductor and senior managing director, Ardian

Founded in 1996 and headquartered in Paris, France, Ardian currently manages or advises $200bn for more than 1,920 clients worldwide across private equity, real assets, and credit.