Innovation Works, the venture capital firm founded by Google’s former China head Kai-fu Lee, has raised $180 million for technology fund. The Innovation Works Development Fund is the first U.S. dollar-based fund focused on the Chinese Internet. Investors participating in the fundraising included WI Harper Group, Silicon Valley Bank, Baillie Gifford & Co. and Sequoia Capital. Innovation Works invests in and coaches young entrepreneurs as well as provides complete services to help start-ups.

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