Innovation Works' arm targets listing on Third Board
By Bloomberg | China Daily | Updated: 2015-11-19 07:53
Kai-Fu Lee, the former China head of Google Inc, is planning an initial public offering at his venture firm, with a portfolio of hundreds of companies valued at more than $2 billion.
His startup incubator, Innovation Works, is seeking to list its business management arm on China's over-the-counter market, known as the Third Board, according to regulatory filings. Dubbed the "godfather" of China's angel investing, Lee's Innovation Works has $500 million in assets under management, according to its website.
The firm has backed 200 companies, with the top 20 performers worth more than $100 million each, according to the filings. The 195-page document does not break down Lee's exact holdings or disclose specific company valuations.
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