START-UP INCUBATOR PLANS IPO

Kai-Fu Lee, former China head for Google, is planning an initial public offering at his venture firm, with a portfolio of hundreds of firms valued at over $2 billion. His start-up incubator, Innovation Works, is seeking to list its business management arm on China’s over-the-counter market. Innovation Works has $500 million in assets under management, […]

Kai-Fu Lee, former China head for Google, is planning an initial public offering at his venture firm, with a portfolio of hundreds of firms valued at over $2 billion. His start-up incubator, Innovation Works, is seeking to list its business management arm on China’s over-the-counter market. Innovation Works has $500 million in assets under management, Bloomberg News reported.