Sinovation Ventures, a Chinese venture capital firm founded by former Google China head Kai-Fu Lee, today announced the close of its new US$500 million Fund IV to invest in early and growth stage Chinese and U.S. technology companies. Sinovation Ventures now manages a total of US$1.7 billion across six funds, including four U.S. dollar funds and two Chinese RMB funds. The majority of Sinovation Ventures’ existing limited partners continued investing in the fourth institutional U.S. dollar fund, including pension funds, … China’s Sinovation Ventures Closes New Fund At $500 Million appeared first on China Money Network.