Innovation Works Builds 500 Million U.S. Dollar AI Fund: Spanish BBVA Bank Injects 50 Million RMB

Kai-Fu Fu’s investment organization, Innovation Workshop, has just established a $500 million artificial intelligence investment fund and obtained the first $50 million in funding from Spain’s BBVA Bank.

Kai-fu Lee

The fund of the innovation workshop was formally disclosed this month. According to BBVA's statement, this 50 million U.S. dollars is the first financing announced, but it seems that the entire 500 million U.S. dollars has been finalized for investment.

The bank said in a statement: 'This fund has about 500 million U.S. dollars to invest in early-stage companies in Internet consumption, B2B, education, etc., but the focus is on artificial intelligence.'

The innovation workshop manages approximately $1.7 billion in funds. According to Crunchbase data, the company has so far made a total of 164 investments.