Ren Kai, executive of the National Integrated Circuit Industry Investment Fund – known in China’s semiconductor industry as the “Big Fund,” was detained by authorities on Thursday morning and is under investigation, according to Chinese media outlet Caixin. Ren Kai is the vice president of the Big Fund’s managing firm. A person from the fund told Caixin that Ren had a “close relation with Lu Jun,” who had been placed under investigation earlier. Born in 1972, Ren entered the China Development Bank in 1995. In his 19 years with the bank, Ren led teams to complete over 100 important programs, with a promised loan amount of RMB 100 billion ($14.24 billion) per year and over RMB 30 billion in semiconductor loans reviewed. China started inspections on the invested semiconductor firms in September 2021. Since this July, over six executives of the fund have been placed under investigation. [Caixin, in Chinese]