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Cloud computing, mobile on the agenda for ex-Google executive

Posted Sep 7th 2009 2:00PM by Tom Johansmeyer (RSS feed)
Filed under: Deals, Google (GOOG), China, Private Equity

Following his departure from Google (NASDAQ: GOOG) on Friday, Kai-fu Lee announced via Twitter that he was planning to launch a new venture fund. Today, he revealed the guts of a $115 million venture capital company that is focused on angel-round financing.

The company, Innovation Works, hopes to launch five successful start-ups a year in China. In addition to investing money in hot prospects, Innovation Works will act as an incubator for the businesses it backs. This approach doesn't exist yet in China.

Continue reading Cloud computing, mobile on the agenda for ex-Google executive

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