HONG KONG—A Chinese venture-capital firm raised about 4.5 billion yuan ($675 million) worth of fresh capital as the country’s top venture firms are building up their cash piles amid a cooling environment for funding. Sinovation Ventures, co-founded by former Google Inc. and Microsoft Corp. executive Kai-Fu Lee, on Monday said it closed two venture capital funds aimed at deals. A new U.S. dollar-denominated fund of $300 million was...

Source: Wall Street Journal September 12, 2016 02:48 UTC