Leading VC firm opens in China with $360 million fund

“Kleiner Perkins Caufield & Byers, a leading Silicon Valley venture capital firm, has opened operations in China with offices in Beijing and Shanghai and formed a $360 million fund to invest in Chinese startup companies. Joe Zhou, formerly with Softbank Asia Infrastructure Fund (SAIF), and TDF Capital partners Tina Ju, David Su and Forrest Zhong are leading the KPCB China team. KPCB said its China team plans to invest its $360 million China Fund to assist Chinese entrepreneurs and to promote innovation in high-growth industries, including technology, Internet, media and wireless communications. The Fund will also invest in new consumer areas, healthcare and green technology. ‘By co-founding KPCB China, I can help entrepreneurs create new initiatives, take more risks and ultimately have a bigger impact on innovation, technology and business. I believe KPCB is the best firm to accelerate venture capital in China and will strive to make KPCB the best venture capital firm in the world,’ said Zhou, in a statement.”