On September 1, the first USD fund with a total of 180 million yuan from Innovation Workshop has been raised. Many companies have invested in this fund, and another RMB 700 million RMB fund from Innovation Workshop will also be raised within a few months. , Tencent, Giant, etc. have confirmed investment.
Two years ago, Kai-Fu Lee left Google to start his own business, and the innovation workshop was born.
It is understood that as of July 2011, the Innovation Workshop has reviewed more than 2,500 projects, invested in 39 projects and companies, the investment amount exceeded 250 million yuan, and the value of the investment enterprise is close to 3 billion yuan. It is expected that by the end of 2011 The enterprise value of innovation workshop investment will exceed RMB 5 billion.
In addition, the incubation enterprises of the Innovation Factory have applied for 15 domestic patents and 5 US patents, attracting more than 500 top talents at home and abroad, and have become the gathering place of Beijing's Internet and mobile Internet industries.
Accepted Tencent's capital injection of RMB funds reaching 700 million yuan
The staff of the Innovation Workshop once said, "The investment direction of the workshop has always been based on the most popular areas of the information industry: mobile Internet, consumer Internet, e-commerce and cloud computing, which have not changed in the past two years."
It is understood that on June 8, 2011, Tencent announced that it will invest in the RMB fund of the Innovation Workshop Development Fund, which has a total scale of 700 million yuan and is used to incubate enterprises or other high-quality Internet technology companies in the early and mid-term stages Support.
Tencent President Liu Chiping said that the Innovation Workshop has been committed to helping Chinese youth succeed in starting a business, and has gathered a number of excellent Internet companies. "We hope that in the future, more high-quality Internet companies will enter the Innovation Workshop. Tencent and Innovation Workshop will work together with an open mind to support and help more Internet innovation companies grow rapidly and better serve the vast number of Internet users."
Some industry insiders said that the Innovation Workshop RMB Fund will use the vast majority of funds to incubate enterprises (seed period and early Internet technology companies) of innovative workplaces, or other Internet technologies with new business ideas and good development prospects in the middle and early stages. Enterprises make direct or indirect equity investments. The fund's key investment industries include Internet applications, mobile Internet applications, e-commerce, and cloud computing applications.
Kai-Fu Lee also welcomed Tencent's investment. He said: "In addition to providing capital investment, Innovation Workshop will continue to provide the support and services required by early entrepreneurs, such as manpower, legal affairs, finance, and training, to help early-stage startups quickly Growth. We believe that this cooperation with Tencent will give full play to the value and experience of the Tencent Internet platform and bring more value-added significance to the technology companies in the venture. "
Cooperation with well-known enterprises at home and abroad to establish an innovation fund
In addition to Tencent, in the two years since its establishment, the Innovation Workshop has also attracted many powerful companies to â€œsettle inâ€. On September 1, 2011, the first USD fund with a total of 180 million innovation workshops has been raised. China Economic Cooperation Group, Foxconn, Qihoo 360, and Russian investor Yuri Milner are all in this fund. Another RMB 700 million RMB fund from Innovation Workshop will also be raised within a few months. Tencent and Giant have confirmed their investments.
The main investors of the above-mentioned US dollar fund include dozens of domestic and foreign institutions, companies and nearly ten well-known investors, which were co-founded and managed by Innovation Workshop and China Economic Cooperation Group.
In terms of investors, they include Ron Conway, known as the godfather of Silicon Valley investment, and Yuri Milner, founder of Russian Mail.ru (DST).
In response, Kai-fu Lee said publicly, "Innovation Workshop has invested in incubating more than 30 projects and companies, 9 of which have successfully attracted external VC investment to complete the A round of financing. The unique incubation + investment model of Innovation Workshop not only guarantees The source and quality of the project, I hope that through a full range of services, we will help train domestic early-stage entrepreneurial teams to grow quickly and efficiently. "
In addition, another RMB fund within the Innovation Workshop is also expected to be completed within the next few months. The RMB fund plans to raise 700 million yuan. As of now, Tencent, Giant, Lanxun, Shanghai Venture Capital Guide Fund, Zhongguancun
Companies such as the management committee's guidance fund or government guidance funds have confirmed investment.
It is worth noting that Qihoo 360 and Tencent invested in the USD and RMB funds of Innovation Workshop, respectively. Both companies' initiatives are aimed at the mobile Internet industry.
According to the information disclosed by Li Kaifu on Weibo, the above two fund investors are not shareholders of the Innovation Workshop and "have no say in the workshop business." At present, the shares of the Innovation Workshop are controlled by Li Kaifu and employees. "(Initial) the initial financing amount is relatively large, and the innovation workshop has not refinanced since then," Li Kaifu said.
The above information source "Venture Investment" is authorized by the China Venture Capital Research Institute (CVCRI) to publish it. All rights reserved. Please indicate the source when reprinting.
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