Former Google China Chief Plans to Take Startup Incubator Public
- Innovation Works' portfolio valued at more than $2 billion
- Kai-Fu Lee plans Third Board listing of management arm
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Kai-Fu Lee, the former China head for Google Inc., is planning an initial public offering at his venture firm, with a portfolio of hundreds of companies valued at more than $2 billion.
His startup incubator, Innovation Works, is seeking to list its business management arm on China’s over-the-counter market, known as the Third Board, according to regulatory filings. Dubbed the “godfather” of China’s angel investing, Lee’s Innovation Works has $500 million in assets under management, according to its website.