Kai-Fu Lee Raises $180M from All-Star Cast of Yuri Milner, Ron Conway, Sequoia and Others

Nearly two years after he launched Beijing-based incubator Innovation Works, Kai-Fu Lee announced in China on Thursday that he has wrapped up raising a $180 million fund to invest in Chinese Internet startups.

The fund is backed by an all-star cast of investors, including Yuri Milner of DST Global and angel investor Ron Conway. In a press release, Kai-Fu announced that he has also raised money from WI Harper, Silicon Valley Bank, Baillie Gifford, Sequoia Capital, IDG-Accel, Foundation Capital, Mohr Davidow, Chunghwa Telecom, Singapore Telecom, Mediatek, Foxconn, New Oriental, SAP, Bertelsmann, Motorola, Autodesk, as well as pension funds from the U.S. and Canada, and executives and former executives from Yahoo, Google, YouTube, Facebook and Amazon.

Kai-Fu was traveling and unavailable for comment.

Chairman and CEO of Innovation Works, Kai-Fu launched the organization with WI Harper shortly after he resigned as head of Google China. So far, the projects coming out of the IT incubator program have a definite Google-like feel.

Among the companies under the Innovation Works umbrella are Tapas, which has developed an Android-based OS for Chinese users.

Kai-Fu previously told me that Innovation Works launched with $115 million in backing from investors, including WI Harper as the lead. It’s uncertain how much each investor put into the fund.

In addition to being adept at raising money from a well-known cadre of angels, VC firms and other investors, Innovation Works has attracted plenty of tech luminaries to help lure startup candidates to the incubator.

Entrepreneurs at Innovation Works have met and interacted with such guests as Yahoo co-founder Jerry Yang, and Kai and Charles Huang, the brothers behind the video game Guitar Hero.