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 raised from global investors; Apple Inc. supplier Foxconn Technology Group was the anchor investor. Sinovation Ventures also raised a new yuan-denominated fund of 2.5 billion yuan, larger than its previous 500 million yuan fund. Chinese startups are increasingly preferring to go public in China where they are likely to get higher valuations.