The famous Silicon Valley venture capital firm Kleiner Perkins Caufield & Byers has entered the Chinese market with a $360 million fund.
Venture capital investments in China grew to $1.8 billion in 2006 from $1.2 billion in 2005, according to data from Hong Kong-based venture market research firm Zero2IPO.
KPCB will have offices in both Beijing and Shanghai, centers of high-tech venture investment and tech innovations. Some might wonder whether KPCB is late to the game given that some VCs in China are openly concerned about over-valuation of Chinese web2.0 companies.
Source: Kleiner Perkins entering China with $360 mln fund | Reuters.com