China’s Kleiner Perkins?

China’s Kleiner Perkins?

The Dragon’s Den hits China: Lee Kai-fu launches incubator fund

There aren’t many people who can claim to have a great new business idea while “sick”. Enter Lee Kai-fu, Google’s former boss in China. This week he launched a $115 million incubator fund for China’s tech start-ups; claiming the concept came to him after Google was banned in June and he was hospitalised. Lee – who has worked for Apple and Microsoft, as well as Google – certainly has the pedigree to succeed. He hopes to mentor the next generation of Chinese tech entrepreneurs, and will seed five local entrepreneurs per year. His firm Innovation Works will give legal, IT and financial support. His own investors come from a very blue chip stable and include Taiwan billionaire Terry Guo and Lenovo founder and boss, Liu Chuanzhi.

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