Dr. Kai-Fu Lee founded Sinovation Ventures 创新工场 in September 2009. With the mission to nurture the next wave of Chinese deep high entrepreneurs and companies, Sinovation Ventures is a venture capital firm headquartered in Beijing and operates in Guangzhou, Shanghai, Nanjing, and Shenzhen. With a unique "TECH VC" model combining professional teams, international networks, and in-house AI technology experts, Sinovation Ventures, now managing over US$2.7 billion funds, has become one of the leading tech VC firms in China. In September 2016, Sinovation Ventures launched its Artificial Intelligence Institute led by Dr. Lee. The A.I. Institute focuses on developing technology, talents, and venture building in the AI field. Sinovation Ventures focused areas of investment include artificial intelligence & deep tech, robotics/automation, semiconductor, enterprise software, healthcare tech, new energy and digital lifestyle areas.