US$150m fund for tech startups
By Zhu Shenshen |
August 7, 2012, Tuesday
|
Print Edition
Print Edition
INNOVATION Works, an investment firm focusing on Chinese information technology startups, has raised second-round funding of US$150 million to invest in mobile Internet companies.
Founded by Google China's former head Kaifu Lee, Innovation Works is one of the most famous angel and venture capital investment firms on the Chinese mainland.
The Innovation Works Development Fund II (IWDF) has completed raising US$150 million, Sina.com reported yesterday.
The firm finished its first-round fund of US$180 million last year. It used the funds to invest in startups such as mobile application store Doubanjia and mobile operating system Dianxin, which have attracted millions of Chinese users.
Beijing-based Innovation Works also announced it will open a new office in Shanghai by the end of the year.
Founded by Google China's former head Kaifu Lee, Innovation Works is one of the most famous angel and venture capital investment firms on the Chinese mainland.
The Innovation Works Development Fund II (IWDF) has completed raising US$150 million, Sina.com reported yesterday.
The firm finished its first-round fund of US$180 million last year. It used the funds to invest in startups such as mobile application store Doubanjia and mobile operating system Dianxin, which have attracted millions of Chinese users.
Beijing-based Innovation Works also announced it will open a new office in Shanghai by the end of the year.
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