Chinese incubator Innovation Works (IW) recently announced that it has completed raising US$ 150 million for its second fund “Innovation Works Development Fund II”. Last September IW finished its first internet-focused fund, obtaining a total of $180million. IW also revealed that its Shanghai branch will be opening soon.

Innovation Works was set up in late 2009 by former Google China head Kai-Fu Lee, focusing on early-stage high-tech investments. Out of its 50 investment portfolios, 18 secured Series A funding with two approaching the end of raising Series B. Currently there were 3 projects were deemed as failure, that’s how IW came up with a “95% of success”.

Days ago, Kaifu Lee was busy rebuffing the rumor that the incubator held too much stakes in the startups it invested into. Lee claimed that IW holds an average 17.6% of shares in its 50 investment portfolios.

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

What you get

Full access to all premium content and our full archives

Members'-only newsletters

Preferential access and discounts to all TechNode events

Direct access to the TechNode newsroom

Start your free trial now.

Get instant access to all our premium content, archives, newsletters, and online community.

Monthly Membership

Yearly Membership

Charlie Sheng

动点科技驻湾区记者. Charlie is an entrepreneur based in San Francisco and Hong Kong who calls herself the undefeated caffeine champion. You can reach her at charlie.sheng (at) technode.com