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US-China incubator raises $5m for second seed fund

  • Holden Mann
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InnoSpring, a technology incubator platform focused on US and China-based companies, has raised $5 million for its second fund aimed at seed-stage investments.

The fund will target entrepreneurs who plan to be active in both US and China, or to disrupt the global market, according to a release. Investors include Legend Capital, IDG Capital Partners, the Chinese Software Development Network, and executives from Tencent Holdings.

InnoSpring raised its first seed fund in 2012, supporting start-ups that were enrolled in its six-month seed program to help entrepreneurs develop their ideas. Investors in the first fund included Kleiner Perkins Caufield & Byers, GSR Ventures, China Broadband Capital, and TEEC Angel Fund.

The firm favors small investments, usually around $30,000. Its approach is sector-agnostic, but it currently focuses on mobile consumer technology, enterprise software, financial technology and health technology. Along with investment, it also offers support such as mentoring; accounting, paralegal and bookkeeping services; and office and storage space.

InnoSpring will also open a new office in San Francisco, in addition to its current headquarters in Santa Clara.

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