Sinovation Ventures, formerly known as Innovation Works, has raised RMB4.5 billion (US$675 million) across two venture funds, including a U.S. dollar fund with US$300 million and a RMB2.5 billion RMB-denominated fund, according to media reports. Founded by former Google Inc. executive Kai-Fu Lee, Sinovation Ventures' new funds count Foxconn Technology Group as the anchor investor. […]

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