China’s Sinovation Ventures set to raise $500m for latest vehicle

Sinovation Ventures founder Kai Fu Lee. Photo: Bloomberg.

Sinovation Ventures, the Chinese venture capital firm founded by former Google Inc executive Kai-Fu Lee, has filed with the US Securities and Exchange Commission (SEC) to raise $500 million for its fifth flagship venture vehicle.

The filing comes more than three years after the San Francisco-based early-stage venture firm raised $500 million for its fourth flagship fund. It also raised $207 million in 2016 for Fund III, $275 million in 2012 for Fund II, and another $180 million in 2011 for Fund I.

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