Xiaomi’s Co-founder and CEO Lei Jun has secured $160 million for his Shunwei Capital fund to invest in more Chinese tech and Internet startups.
This funding brings Shunwei’s total assets under management to $910 million, as per a Forbes report.
Shunwei China Internet Fund, L.P. (“Shunwei”) is a China-focused VC fund, which was founded in 2011. It focuses primarily on early to mid-stage investments in technology startups, including but not limited to mobile internet, eCommerce and social network.
Till date it has invested in 19 startups in the range of $150,000 to $ 50 million.
About Lei Jun
Lei Jun founded Joyo.com in 2000, which was later acquired by Amazon in 2004. Jun also held positions at Kingsoft, leading the company to its IPO on the Hong kong Stock Exchange. He was part of the founding team of Kingsoft in 1992 and after Kingsoft’s listing on the Hong Kong stock exchange, Jun functioned as CEO and remained as Vice Chairman of the company. He had invested in many startups like Vancl, YY and UC. In April 2010 Jun founded Xiaomi. Jun also serves as chairman of Chinese mobile browser UCWeb.
In 2010, Lei had invested a seed round in Koudai Shopping, a mobile shopping software which recommends targeted products according to user’s personal style.