Week’s News: Kai-Fu Lee To List Fund, Intel Backs 2 More China Startups, IPOs Thaw, China Media Capital Attracts Alibaba, Tencent

Kai-Fu Lee appears to be unstoppable. Having raised what he told Silicon Dragon is a record amount this year for his Innovation Works, he’s now aiming to list the incubator-plus -investment fund on China’s NEEQ or New Third Board.

While private equity firms have listed on exchanges, this is an unusual strategy for a VC-oriented Chinese firm, and it’s designed to raise more capital, potentially for a next generation of unicorns.

Founded in 2009, Innovation Works manages $500 million across two US dollar funds, in addition to two RMB funds. Some 200 Chinese startups in Internet, e-commerce and cloud computing startups have been backed by the by the fund started by the former head of Google China. Lee is now spending more time in Taiwan and traveling to mainland China about once a month, based on doctor orders. He’s looking trim and healthy, by the way.

China IPOs Get Greenlight In other news, ​China plans to lift a five-month ban on IPO listings before the end of year and green-lighting 28 companies that were in the cue to go public.

Intel Capital Pours More Money Into Edgy Tech Startups In China

Tencent, Alibaba Get Behind China Media Capital For More Glitzy Deals

China Media Capital has formed a new investment platform, CMC Holdings, thanks to capital commitments totaling $1.6 billion from Tencent, Alibaba and Suzhou-based PE firm Oriza Holdings. The new unit will manage long-term strategic investments focusing on the company’s stronghold in the media and entertainment sector while CMC Capital Partners continues to manage short-term financially driven investments.

Look for this new group of partners to step up investments across the media ecosystem, adding to partnerships already in place under the leadership of Ruigang Li with the likes of Warner Bros and British family attraction firm Merlin Entertainment.