Sinovation Ventures seeks $500m

The Chinese tech investor raised the same amount for its previous fund.

Beijing-based Sinovation Ventures is seeking to raise $500 million for Fund V, according to a regulatory filing. That’s the same amount the firm raised for Fund IV, vintage 2018, which was backed by such LPs as BBVA, Hon Hai Precision Industry and Los Angeles County Employees’ Retirement Association.

The firm, which invests in Chinese tech companies, was started in 2009 and led by Kai-Fu Lee.