More China funds are popping up as venture capital tilts away from the Silicon Valley epicenter and toward emerging Chinese tech startups. Sinovation Ventures debuted a $500 million fourth fund while Sky9 Capital launched a $200 million third fund. Sinovation Ventures, led by AI guru and former Google China executive Kai-Fu Lee, is investing in artificial intelligence, robotics and education startups. Sky9 Capital, headed up former Lightspeed China founder Ron Cao, focuses on backing early-stage Chinese companies in the Internet, enterprise and deep tech sectors. In the wings is a new venture fund from China Creation Ventures, a spin-out by the former team of Kleiner Perkins China and led by founding managing partner Wei Zhou. Additionally, Sequoia Capital China is raising a $550 … [Read more...]