This story was delivered to Business Insider Intelligence "Fintech Briefing" subscribers. To learn more and subscribe, please click here. Spanish bank BBVA has invested $50 million into Chinese VC Sinovation Ventures’ Sinovation Fund IV, which has reportedly raised a total of $500 million. The fund hasn’t made any investments yet, but it will focus on early stage companies in the region that work in internet consumption, business-to-business (B2B) services, and education, with a special focus on AI. Sinovation introduced two other funds in 2016, giving it experience in the investment space.