The accelerator, backed by partners including Shui On, is targeting $5m to follow on from a $1.5m fund raised in 2012.
US-based acelerator Innospring, which is backed by a consortium of financial institutions including China-based property company Shui On Group, is raising a $5m second fund, according to the Wall Street Journal.
Innospring, which titles itself as Silicon Valley’s first US-China accelerator partnership, is also backed by Tsinghua University Science Park, venture firms Northern Light Venture, GSR Ventures , China Broadband Capital and Kleiner Perkins Caufield & Byers, debt and equity provider Silicon Valley Bank, and TEEC Angel Fund.
The incubator…
