According to the company, Innovation Works is funded by global investors including electronics manufacturer Hon Hai Precision Industry, co-founder of YouTube Steve Chen and venture-capital firm WI Harper Group.
Lee told press that his goal in his new role is to focus on funding Chinese start-ups to build the Mainland’s digital industry.
Lee told press that his goal in his new role is to focus on funding Chinese start-ups to build the Mainland’s digital industry.
Lee joins Innovation Works after four years at Google China. He previously held executive positions at Microsoft, which had accused Lee of violating his employment contract in 2005 and sued Google over its hire. The suit was settled privately that same year.
Last week, a statement from Google credited Lee with making “dramatic advancements” in Google’s search capabilities and making a name for the company in China, where Baidu has long been the dominant search engine with 61.6 per cent of China’s search revenue share.
He also helped steer Google’s mobile efforts in the market, enabling a facilitating a large-scale deal that enabled its Android sourcing to be available on China Mobile handsets.
