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Klener Perkins sets up venture fund in China

(China Daily)
Updated: 2007-04-30 09:30

Klener Perkins Caufield & Byers, a US venture capital firm that invested in Google Inc and Amazon.com Inc, opened a fund in China to tap fast-growing industries in the world's fourth-largest economy.

The US$360 million fund, its first outside the US, will invest in companies in the technology, Internet, media and wireless communications, consumer products, healthcare and greentech sectors, Kleiner Perkins said in a statement last week.

Kleiner Perkins hired Joe Zhou, formerly with Softbank Asia Infrastructure Fund, and three partners from TDF Capital a Shanghai-based venture capital firm which backs IT firms including Baidu.com, Alibaba.com and Focus Media to run operations in the country.