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Sinovation Ventures
China-based venture capital firm From Wikipedia, the free encyclopedia
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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]
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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]
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