Venture and Innovation in China

While President of Google China, Kai-Fu Lee had front-row seat to China”s technology scene, but he also watched as some 50 employees left to launch “wildly successful” businesses. Today, Lee”s venture firm, Beijing-based Innovation Works, backs similarly motivated entrepreneurs by providing them capital and matching them with high-growth investment theses.

In an exclusive interview with Privcap, Lee discusses what he learned while at the helm of Google, how he selects the startups that he backs, how he partners with other VC firms on seed and further rounds, why Chinese entrepreneurs are more focused on solving real problems than on “truly breakthrough ideas,” and how Innovation Works will distinguish itself in a crowded venture market. (You may view Lee”s Chinese-language analysis of venture”s economic impact here)