Sunday, September 11, 2011

Bertelsmann, SAP and Motorola are investing in China

Bertelsmann, SAP and Motorola are investing in China

The Chinese Business Incubator "Innovation Works" (not to be confused with the eponymous U.S. Economic Development) has launched a new fund with a volume of 180 million U.S. dollars. The "Innovation Works Development Fund" (IWDF) is focused on Chinese Internet startups. Investors include pension funds in addition from the USA and Canada also German companies, especially the media group Bertelsmann and the software company SAP. Moreover, even Motorola, Silicon Valley Bank and the Singapore Telecom invested in the fund. The media reported the Hamburg magazine "new business"

Behind Innovation Works (IW) is the former head of Google China, Kai-Fu Lee. Since the foundation of IW in September 2009, he has helped 34 Chinese companies in the early startup phase, and cared for.

A Bertelsmann spokeswoman said on request of the Hamburg magazine, her company had the IWDF investment funds through its "Bertelsmann Asia Investment (BAI)" made. "We are investing in China, specifically in new media sectors, which are seen as potential growth areas. BAI has adopted this strategy in recent months and years to stakes in several Chinese media and online education company, and also in several local venture funds invested. innovation Works is one of the larger examples. "

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