ICF deploys its capital by holding minority stakes in publicly traded companies. Some of its investments are outside China. It also used to invest in investment firms such as Oriza Holdings via a fund of funds strategy, which allows it to indirectly invest further into more companies such as Ingenic Semiconductor. It has achieved success with investments in SMIC and Hua Hong Semiconductor but also has setbacks such as its investment in Tsinghua Unigroup, which had to undergo bankruptcy reorganization.
