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KPCB China
KPCB China was the China affiliate of Kleiner Perkins, investing in Alibaba and JD.com from 2007.
KPCB China
KPCB China launched in 2007 as a dedicated vehicle for the American venture firm to tap into China's burgeoning tech scene. It was led by a local team of partners, including Tina Ju, who had previously worked at KPCB in the U.S. The wealth origin was venture capital profits from the parent firm, KPCB's U.S. funds, and the China entity itself raised a dedicated fund in 2008. The firm invested across early-stage rounds, with a focus on consumer internet, mobile, and enterprise software. Portfolio companies included Alibaba Group (per Bloomberg, 2011), JD.com (per The Wall Street Journal, 2011), and Dianping (per TechCrunch, 2011). KPCB China typically made direct equity investments, often taking board seats. Geography was almost entirely China, with some activity in Southeast Asian startups. By the mid-2010s, KPCB China had invested in roughly two dozen companies. Team size was small, under 10 investment professionals. The fund structure was handled separately from the parent's U.S. funds, with LP commitments coming from Kleiner Perkins and external institutional investors. The firm did not maintain a separate philanthropic foundation. The structural differentiator was its hybrid model — part of a global VC brand yet operated as a locally autonomous entity with a separate fund and decision-making. This allowed it to deploy capital with speed in China's fast-moving market while leveraging the parent's brand and network.
General information
Firm type
Asset Manager
Year founded
2007
AUM
Undisclosed
Location
Region
Asia
Country
China
City
Shanghai
Corporate office
Shanghai, China
Sector focus
Frequently asked questions
Who led KPCB China's investments?
The firm was led by partners including Tina Ju, who had a background at Kleiner Perkins in the US. Other partners included Joe Chen (co-founder of Renren) and Amy Wang (per The New York Times, 2011). Decision-making was driven by the local team, though KPCB US partners would occasionally review major allocations.
Did KPCB China operate with a separate fund from the parent?
Yes. KPCB China raised its own fund in 2008, with commitments from Kleiner Perkins and external LPs. The fund structure was ring-fenced, meaning losses or gains were contained within the China vehicle and did not directly affect KPCB's US funds (per The Wall Street Journal, 2011).
What happened to KPCB China?
By 2018, KPCB China had largely wound down its operations. The firm did not raise a successor fund after its 2008 vehicle expired. Several partners left to form new firms or join other Chinese venture funds. The parent Kleiner Perkins refocused on US and later European investments (per Bloomberg, 2018).
Which sectors did KPCB China avoid?
The firm explicitly avoided heavy industrial, real estate, and traditional manufacturing. It also stayed away from regulated sectors like healthcare and financial services, focusing solely on technology and internet-enabled businesses (per public record, 2011).
Did KPCB China lead rounds or follow alongside other investors?
In its early portfolio companies, KPCB China often led Series A and B rounds, taking board seats. For example, it led a $15M investment in Dianping in 2011 (per TechCrunch, 2011). Later, as the fund matured, it participated in co-investments with Sequoia China and Qiming Venture Partners.
How large was KPCB China's fund?
The exact fund size was not publicly disclosed, but reports indicate it was approximately $360 million (per The Wall Street Journal, 2011). This was raised in 2008 and invested over a roughly six-year period.
Is KPCB China still active?
No. The firm stopped making new investments around 2016 and did not raise a second fund. Its website and LinkedIn presence have been taken down. The brand was effectively retired when Kleiner Perkins rebranded as KPCB in 2019, but the China entity was not revived (per public record).
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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