Sinovation_Ventures

Sinovation Ventures

Sinovation Ventures

China-based venture capital firm

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]

Quick Facts Native name, Formerly ...

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

More information Fund, Vintage Year ...

Investments

References

  1. [1]
    "Sinovation Ventures". Sinovation Ventures. Archived from the original on 18 December 2022. Retrieved 18 December 2022.
  2. [2]
    "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.
  3. [3]
    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.
  4. [4]
    Sandoval, Greg. "Microsoft settles with Google over executive hire". CNET. Archived from the original on 18 December 2022. Retrieved 18 December 2022.
  5. [5]
    "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.
  6. [6]
    "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.
  7. [7]
    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.
  8. [8]
    "Hua Wang, Sinovation Ventures: Profile and Biography". Bloomberg.com. Retrieved 18 December 2022.
  9. [9]
    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.
  10. [10]
    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.
  11. [11]
    "Sinovation Ventures | Palico". www.palico.com. Archived from the original on 18 December 2022. Retrieved 18 December 2022.
  12. [12]
    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.
  13. [13]
    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.
  14. [14]
    "Sinovation Ventures raises $203m so far for fifth flagship venture fund". DealStreetAsia. Archived from the original on 18 December 2022. Retrieved 18 December 2022.
  15. [15]
    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.
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