Venture capital firm Kleiner Perkins Caufield & Byers is raising a $250 million fund to invest in companies in China.
It’s the second China-based growth fund Kleiner Perkins Caufield & Byers has raised. The firm raised $380 million in 2008 as part of its first China fund.
Kleiner Perkins Caufield & Byers has invested in a number of hot U.S. companies in the past few years. Among them are enterprise social networking site Jive, Groupon and Zynga — all of which have filed to go public.