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Venture Capital
FINANCE | Investment Firms & Funds
chuangxin.com

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Investments

384

Portfolio Exits

36

Funds

7

About Sinovation Ventures

Sinovation Ventures, formerly China's Innovation Works, was founded in September 2009 by Dr. Kai-Fu Lee, previously the head of Google China and the founder of Microsoft Research Asia. The firm, with $1.2 billion in AUM today, is a top international platform differentiated by high value-added services for portfolio companies. The firm strives to be the founders' partners from idea to product, from local to global expansion. With the headquarter in Beijing, the firm also has offices in the Silicon Valley, Shanghai, Shenzhen, Xiamen, and Wuhan.In the U.S., the firm's investment focus areas are: 1) advanced technologies such as artificial intelligence and cloud computing; 2) education technology; 3) developer tools: SDKs, APIs, next generation analytics, mobile A/B testing; and 4) B2B SaaS for sales, operational productivity and real-time communications. In China, the firm will also invest in digital entertainment, consumer and B2B services, and fintech. Sinovation Ventures sometimes invest in projects beyond these focus stages and areas. Such projects are always led by exceptional teams and have an immediate and clear synergy with its current portfolio.

Sinovation Ventures Headquarter Location

Dinghao Tower A 9-10/F, No. 3 Haidian Street Haidian District

Beijing, Beijing, 100 080,

China

+86 010-57525200

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Expert Collections containing Sinovation Ventures

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find Sinovation Ventures in 1 Expert Collection, including Education Technology (Edtech).

E

Education Technology (Edtech)

56 items

Sinovation Ventures Web Traffic

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Page Views per Million (PVPM)
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Sinovation Ventures Rank

Research containing Sinovation Ventures

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Sinovation Ventures in 2 CB Insights research briefs, most recently on Apr 19, 2022.

Latest Sinovation Ventures News

Leekr Technology Secures Nearly 200M Yuan in Round-A Financing

May 19, 2022

Leekr Technology, a chassis-by-wire system solutions provider, announced on Thursday its completion of A and A+ rounds of financing , securing a cumulative amount of nearly 200 million yuan ($29.56 million). The round-A investment was jointly led by Vision Plus Capital and Sinovation Ventures, with additional participation from FTZ Fund, the Lingang New Area Science and Technology Innovation Fund and Unity Ventures. The round-A+ investment was led by Harvest Fund, with Yiqilihe serving as a co-investor. Vision Plus Capital, FTZ Fund and Lingang New Area Science and Technology Innovation Fund are existing shareholders of the firm. The newly acquired funds are mainly to be used for the construction of a Phase I-Phase II intelligent manufacturing industrialization base and for investment in R&D of next generation products of chassis-by-wire systems. Also, the funds are intended to guarantee large-scale delivery of the company’s decoupled electronic brake booster (DHB) and integrated intelligent brake system (IHB) in 2022. Founded in 2021, Leekr Technology is committed to providing safe, efficient and intelligent complete solutions for chassis-by-wire systems to car companies and industrial partners. The founding team has worked in the chassis industry for decades, and its core R&D members are from the top system suppliers in the world, such as Bosch, ZF Friedrichshafen AG, Continental AG and Huawei, and have rich experience in the mass production of projects. Its DHB and IHB have been designated for nine car projects of leading Chinese automakers, covering new energy vehicles and fuel vehicles. The company completed winter tests in March, and expects to realize the first large-scale mass production of car company projects in mid-2022. Hui Zhifeng, the founder and CEO of Leekr Technology, said: “I am honored that our team and product R&D capabilities are recognized by customers and investors of car companies. We will continue to build better by-wire chassis products in line with market demand, and cooperate profoundly with car companies in new fields such as new energy and autonomous driving.”

Sinovation Ventures Investments

384 Investments

Sinovation Ventures has made 384 investments. Their latest investment was in Elixir Clinical Research as part of their Series A on April 4, 2022.

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Sinovation Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/22/2022

Series A

Elixir Clinical Research

$52M

Yes

3

4/2/2022

Seed VC

Xiangyue Interactive

Yes

1

3/31/2022

Series B

ADEN

$31.39M

No

3

3/15/2022

Series A

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$99M

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10

3/3/2022

Series B - II

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10

Date

4/22/2022

4/2/2022

3/31/2022

3/15/2022

3/3/2022

Round

Series A

Seed VC

Series B

Series A

Series B - II

Company

Elixir Clinical Research

Xiangyue Interactive

ADEN

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Amount

$52M

$31.39M

$99M

New?

Yes

Yes

No

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Co-Investors

Sources

3

1

3

10

10

Sinovation Ventures Portfolio Exits

36 Portfolio Exits

Sinovation Ventures has 36 portfolio exits. Their latest portfolio exit was AInnovation on January 27, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

1/27/2022

IPO

1

1/8/2022

Acquired

4

10/26/2021

Acquired

1

8/17/2021

Acquired

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10

8/3/2021

Acquired

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10

Date

1/27/2022

1/8/2022

10/26/2021

8/17/2021

8/3/2021

Exit

IPO

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

Acquirer

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Sources

1

4

1

10

10

Sinovation Ventures Fund History

7 Fund Histories

Sinovation Ventures has 7 funds, including Sinovation RMB Fund III.

Closing Date

Fund

Fund Type

Status

Amount

Sources

6/5/2019

Sinovation RMB Fund III

$361.72M

1

5/24/2018

Chuangxin Qizhi Guangzhou (创新奇智广州)

$99M

10

4/16/2018

Sinovation Fund IV

$99M

10

9/12/2016

Sinovation Fund III

$99M

10

9/12/2016

Sinovation RMB Fund

$99M

10

Closing Date

6/5/2019

5/24/2018

4/16/2018

9/12/2016

9/12/2016

Fund

Sinovation RMB Fund III

Chuangxin Qizhi Guangzhou (创新奇智广州)

Sinovation Fund IV

Sinovation Fund III

Sinovation RMB Fund

Fund Type

Status

Amount

$361.72M

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

Sinovation Ventures Team

6 Team Members

Sinovation Ventures has 6 team members, including current Founder, Chief Executive Officer, Kai-fu Lee.

Name

Work History

Title

Status

Kai-fu Lee

Founder, Chief Executive Officer

Current

Hua Wang

Chief Executive Officer, Managing Partner

Current

Ning Tao

President

Current

Puyu Li

Chief Financial Officer

Current

Yonggang Wang

Chief Technology Officer

Current

Name

Kai-fu Lee

Hua Wang

Ning Tao

Puyu Li

Yonggang Wang

Work History

Title

Founder, Chief Executive Officer

Chief Executive Officer, Managing Partner

President

Chief Financial Officer

Chief Technology Officer

Status

Current

Current

Current

Current

Current

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