Impressive List Of U.S. Investors Drops $180 Million Into Chinese Startup Incubator

Kai-Fu Lee has a fairly unique perspective on the tech industry, having spent years in high roles at Apple, Microsoft, and Google. Lee spent six years as VP of Apple's Interactive Media Group, before moving on to be chosen as the guy to forge first Microsoft's and then Google's inroads into China. Then, in mid-2009, Lee left Google (where the former professor and computer scientist had been involved with Google.cn and beyond for over four years) amidst the growing criticism in Western media of China's Internet policy, specifically in regards to the Golden Shield, or the Great Firewall of China, as it is fondly known. Lee bowed out of Google seemingly at just the right time to turn his focus from the behemoths to the little guys, founding Innovation Works, an early-stage incubator for Chinese startups. Since 2009 the incubator has been solely focused on investing in and coaching young entrepreneurs in the Chinese market, and today the incubator announced that it has raised $180 million to create the so-called "Innovation Works Development Fund" (IWDF). The fund is the first dollar-based fund raised by the company to be focused on Chinese Internet startups.

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