The Lenovo Group start-up fund that backed iDreamsky Technology through its initial public offering in the United States this month has three more candidates that are almost ready for share sales. LeFund, a US$100 million investment fund Lenovo set up in 2010, had so far invested in 30 companies, of which iDreamsky was the first, said Dennis Song, the fund's managing director. The fund invests in areas including online and mobile games, security and cloud computing, with the goal of helping Lenovo, the world's largest maker of personal computers, move beyond hardware into internet services. The fund, which has seen returns of seventy-fold on some investments of US$1 million to US$2 million, would bring other holdings to market following the iDreamsky float that raised about US$115.5 million, Song said. "We have other very successful investments and return cases that are not yet in the IPO phase but we believe will be later," he said. "We have three candidates in the pre-IPO, pending phase." While Song declined to identify the candidates, he described some of the fund's other key holdings. One start-up the fund invested in is Face++, a maker of cloud-based facial recognition technology. It competes with Face.com which was acquired by Facebook in 2012. Song said Face++ had a valuation of about US$100 million. Another investment is in Zaker, which makes information sharing software that is now pre-loaded on Lenovo tablets. Song said Zaker had a valuation of about US$70 million after its latest round of fundraising. The fund has also invested in ShopEx, which makes a software sales platform for independent e-commerce sites. About 70 per cent of independent e-commerce sites on the mainland used the software, including Lenovo's online shops, Song said.