InnoSpring Fund II Raises $5 Million, Increases Entrepreneur Access as Silicon Valley Footprint Expands to San Francisco

SANTA CLARA, CA--(Marketwired - Jun 15, 2015) - InnoSpring (IS), Silicon Valley's first US-China technology incubator platform, announced today that it closed $5 million for InnoSpring Seed Fund II (ISF II) and has expanded its footprint from its 13,500 square foot Santa Clara facility to include a San Francisco office.

InnoSpring Seed Fund strives to bring global insight to its portfolio companies by partnering with influential US-China venture capital funds. Fund I investors included Kleiner Perkins Caufield Byers (KPCB) US and China funds, Northern Light Venture Capital (NLVC), GSR Ventures, China Broadband Capital and TEEC Angel Fund. New limited partners in this round include leading investors such as Legend Capital, IDG Capital Partners, Softbank China Capital, Legend Star Fund by Legend Holdings, The Chinese Software Developer Network (CSDN), the largest developer community in China, as well senior executives from China internet giant Tencent.

"InnoSpring walks the talk and is venture-backed, just like our startups. We are honored that all our investors hail from some of US-China's most prestigious funds, a testament to their confidence in InnoSpring's platform, strategic plan and mission," said Dr. Xiao Wang, chief executive officer, InnoSpring. "By collaborating with the best brands in the world, from initiation to growth stage, we offer a pipeline of funding, networks, talent solutions and support for any company that wants to tap the massive resources and growth potential in the U.S., China and beyond."

"Northern Light will continue to support InnoSpring as it takes great strides forward with the vision of being the global launchpad for startups," said Lei Yang, managing director, Northern Light Venture Capital (NLVC). "With the successful closing of InnoSpring Fund II and the expansion of its footprint to San Francisco, InnoSpring is demonstrating its commitment to building the innovation ecosystem that will help bring game-changing technologies to international markets."

With Fund II, InnoSpring will invest in exceptional entrepreneurs focusing on disrupting the global market or leveraging US-China cross-border resources, with products and technologies that could shape the way the world works in the next decade. To this end, its partnership with CSDN will help its portfolio companies receive the development help that they need to scale rapidly. While InnoSpring is sector-agnostic, the firm's current focus is on mobile first consumer technology, enterprise software, FinTech and HealthTech startups. To better serve entrepreneurs, InnoSpring has also expanded its offices to include a San Francisco facility, located at co-working space WeWork on 25 Taylor Street.

To date, InnoSpring has invested in a string of successful startups that are worth $500 million in valuations, including mobile security firm TrustGo, which was acquired by search giant Baidu; law analytics platform Lex Machina and Dew Mobile, which built Zapya, a file-transfer platform.

InnoSpring has also:

• Worked closely with more than 100 startups and invested in 28 of them
• Fostered entrepreneurs from all over the world, including China, India, Singapore, Taiwan, Europe, London
• Helped to raise more than $100 million for its startups
• Nurtured solutions that serve more than 150 million users globally
• Provided 80 mentors with deep technology, financial and operational expertise

"IDG Capital is proud to be an investor and resource for InnoSpring Seed Fund II and their startups. InnoSpring's continued momentum perfectly positions it to provide access for startups that want resources, connections, guidance and opportunities here in Silicon Valley and internationally," said Feng Li, general partner, IDG Capital.

About InnoSpring
Founded in 2012, InnoSpring is the first US-China incubator platform for globally-minded startups. It is focused on encouraging startups to expand beyond their home countries to lead huge market opportunities in the US and China, and beyond. The company's proven track record is underpinned by its ecosystem of mentors, financing, and resources on both sides of the Pacific. InnoSpring is a joint project between Tsinghua University Science Park (TusPark), Shui On Group (Shui On), Northern Light Venture Capital (NLVC) and Silicon Valley Bank (SVB). InnoSpring is located in Santa Clara, California.

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