Chinese venture capital firm Kleiner Perkins Caufield & Byers has raised $250 million for its fund, Business Insider reports. The KPCB China Fund II will focus on making investments in Chinese companies, adds GigaOm.
The firm’s previous fund raised $380 million. Kleiner has put money in a number of U.S. companies in the past few years, which include enterprise social networking site Jive, collective buying site Groupon and social network games developer Zynga. Kleiner’s Shanghai-based affiliate KPCB China is in the process of raising a local-currency fund with a target of at least $89.4 million.
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