Sinovation Ventures () is a Beijing-based venture capital firm founded in 2009. The firm focuses on investing in startups that use artificial intelligence technology. It was one of the first Chinese venture capital firms to establish a presence in the United States.
Background Kai-Fu Lee was President of Google China from July 2005 to 4 September 2009. A few days after resigning from his post, on 7 September 2009, he announced he would be starting a $115m venture capital fund called "Innovation Works". His colleague, Hua Wang, who was previously Head of Business Development in Google China joined him as a co-founder.
In 2013, an office was opened in Silicon Valley to invest in US startups.
In 2016, the firm rebranded from "Innovation Works" to "Sinovation Ventures".
In 2019, the firm closed its Silicon Valley office citing the China–United States trade war making it difficult to get into US deals.
Funds FundVintage YearCommitted Capital ($m)Sinovation Fund I2011USD 180Sinovation Fund II2012USD 275RMB Fund I 2012USD 48.5Sinovation Fund III2016USD 207RMB Fund II2016USD 380Sinovation Fund IV2018USD 500Artificial intelligence fund2018USD 391RMB Fund III2019USD 361Sinovation Fund V2022USD 203
Investments
01.AI 4Paradigm AdMob Bitmain Insilico Medicine Megvii MeituPic Mobike Momenta Niu Technologies Planetary Resources Securly TuSimple VIPKid WeRide Wonder Workshop Zhihu
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