Zhou Wei(pictured), a managing partner at venture firm Kleiner Perkins Caufield & Byers China, has established his own venture capital firm named China Creation Ventures.
The new firm, which will focus on early and growth stage investment opportunities in China's telecom, media and technology (TMT) sectors, has completed fundraising for its first RMB fund at RMB1.5 billion (US$220 million), according to Chinese media reports citing insiders.
Zhou started the fund with a number of former partners and members of the TMT team at KPCB China, in another example of a broader trend, in which experienced venture partners are setting up their own shop to gain a larger stake in the profits they generate.
Last year, David Liu, head of China and co-head of Asia Private Equity at KKR, left the global private equity giant to form a new China...
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