Sinovation Ventures

Sinovation Ventures (a'- dega*JPYao ChuA ngxA"n GAngchCZng; originally founded as Innovation Works and rebranded in 2016) is a leading Chinese technology venture capital firm headquartered in Beijing, China with additional offices in Shanghai, Shenzhen, Nanjing, and Guangzhou (previously also Silicon Valley 2013-2019, closed citing China-US tensions). The firm was founded in September 2009 by Chairman and CEO Dr. Kai-Fu Lee (former President of Google China July 2005-September 2009; prior senior executive roles at Microsoft, SGI, and Apple; Columbia University BA in Computer Science; PhD Carnegie Mellon; IEEE Fellow; author of bestselling books ''AI Superpowers'' 2018 and ''AI 2041'' 2021) and co-founder Hua Wang (former Head of Business Development, Google China). Sinovation has grown from an initial USD 115 million fund into managing approximately USD 2.7 to 3.0+ billion in aggregate AUM across ten USD- and RMB-denominated funds (Funds I through V-plus), with a portfolio of 400-500+ technology companies primarily focused on Chinese AI, deep-tech, and next-generation technology. The firm operates under a ''Tech VC'' and ''VC+AI'' model with in-house AI research expertise and launched the Sinovation Ventures Artificial Intelligence Institute in September 2016. Notable portfolio companies include Meitu, 4Paradigm (HKEX-listed), Face++ / Megvii, Mobvoi, VIP Kid, Tatar / Momenta, and 01.AI (the LLM company Kai-Fu Lee founded separately in March 2023). In 2024-2025, 01.AI formed a joint AI lab with Alibaba.