 | |
Native name | 创新工场 |
|---|---|
| Formerly | Innovation Works |
| Company type | Private |
| Industry | Venture Capital |
| Founded | 7 September 2009 |
| Founders | Kai-Fu Lee Hua Wang |
| Headquarters | Beijing, China |
| Products | Investments |
| AUM | US$3 billion (2022) |
| Website | sinovationventures |
| Footnotes / references [1] | |
Sinovation Ventures (Chinese: 创新工场; pinyin: Chuàngxīn Gōngchǎng) is a Beijing-based venture capital firm founded in 2009.[2] The firm focuses on investing in startups that use artificial intelligence technology.[3] It was one of the first Chinese venture capital firms to establish a presence in the United States.[2]
Background
Kai-Fu Lee was President of Google China from July 2005 to 4 September 2009.[2][4][5][6] A few days after resigning from his post, on 7 September 2009, he announced he would be starting a $115m venture capital fund called "Innovation Works".[2][5][6][7] His colleague, Hua Wang who was previously Head of Business Development in Google China joined him as a co-founder.[8]
In 2013, an office was opened in Silicon Valley to invest in US startups.[9][10]
In 2016, the firm rebranded from "Innovation Works" to "Sinovation Ventures".[7]
In 2019, the firm closed its Silicon Valley office citing the China–United States trade war making it difficult to get into US deals.[9][10]
Funds
| Fund[11] | Vintage Year | Committed Capital ($m) |
|---|---|---|
| Sinovation Fund I | 2011 | USD 180 |
| Sinovation Fund II | 2012 | USD 275 |
| RMB Fund I | 2012 | USD 48.5 |
| Sinovation Fund III | 2016 | USD 207 |
| RMB Fund II | 2016 | USD 380 |
| Sinovation Fund IV | 2018 | USD 500 |
| Artificial intelligence fund[12] | 2018 | USD 391 |
| RMB Fund III[13] | 2019 | USD 361 |
| Sinovation Fund V[14] | 2022 | USD 203 |
Investments
References
- ^ "Sinovation Ventures". Sinovation Ventures. Archived from the original on 18 December 2022. Retrieved 18 December 2022.
- ^ a b c d "Chinese economy resilient thanks to its diversity, says top tech venture capitalist". South China Morning Post. 5 December 2018. Archived from the original on 18 December 2022. Retrieved 18 December 2022.
- ^ Yuan, Li (24 August 2016). "China Gears Up in Artificial-Intelligence Race". Wall Street Journal. Archived from the original on 18 December 2022. Retrieved 18 December 2022.
- ^ Sandoval, Greg. "Microsoft settles with Google over executive hire". CNET. Archived from the original on 18 December 2022. Retrieved 18 December 2022.
- ^ a b "Google China Head Kai-Fu Lee Leaves to Start New Venture - BusinessWeek". 8 September 2009. Archived from the original on 8 September 2009. Retrieved 18 December 2022.
- ^ a b "Dr. Kai-Fu Lee Leaves Google, Starts Innovation Works | Reuters". Reuters. 10 September 2009. Archived from the original on 10 September 2009. Retrieved 18 December 2022.
- ^ a b c Yuan, Li (12 September 2016). "Sinovation Ventures Raises $675 Million in Fresh Capital". Wall Street Journal. Archived from the original on 18 December 2022. Retrieved 18 December 2022.
- ^ "Hua Wang, Sinovation Ventures: Profile and Biography". Bloomberg.com. Retrieved 18 December 2022.
- ^ a b c d e f g Levy, Ari (14 May 2019). "Google's former China head Kai-Fu Lee retreats from US investing amid trade dispute". CNBC. Archived from the original on 18 December 2022. Retrieved 18 December 2022.
- ^ a b Kaye, Kate (7 November 2022). "Kai-Fu Lee tried to teach the US about Chinese AI and got a rivalry". Protocol. Archived from the original on 18 December 2022. Retrieved 18 December 2022.
- ^ "Sinovation Ventures | Palico". www.palico.com. Archived from the original on 18 December 2022. Retrieved 18 December 2022.
- ^ Wu, Yimian (25 May 2018). "Sinovation Ventures Establishes $391M AI Fund In Guangzhou". China Money Network. Archived from the original on 18 December 2022. Retrieved 18 December 2022.
- ^ Wang, Eudora (5 June 2019). "Former Google China Head-Led Sinovation Ventures Closes Third RMB Fund At $361M". China Money Network. Archived from the original on 18 December 2022. Retrieved 18 December 2022.
- ^ "Sinovation Ventures raises $203m so far for fifth flagship venture fund". DealStreetAsia. Archived from the original on 18 December 2022. Retrieved 18 December 2022.
- ^ Gobry, Pascal-Emmanuel. "The Guy Who Ran Microsoft And Google In China Clones US Startups". Business Insider. Archived from the original on 18 December 2022. Retrieved 18 December 2022.
External links
This page was last edited on 16 March 2024, at 03:03