China’s Sinovation Ventures raises $674m across two funds
Chinese early-stage VC firm Sinovation Ventures, formerly Innovation Works, has closed its third US dollar-denominated fund and second renminbi fund, with more than $674 million in aggregate commitments.
The US dollar fund, Sinovation Fund III, closed at $300 million, exceeding a target of $250 million. The LP base comprises international pension funds, fund-of-funds, family offices and strategic investors,...
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