Kleiner Perkins Caufield & Byers' Chinese arm has reportedly struck a deal to invest $15 million in a biotech company located in the eastern region of the country. Quoting sources, Reuters said that KPCB had struck a deal with the Chinese subsidiary of GenScript, which does outsourced research work.
The high-flying venture group has about $500 million in its China fund and plans to make six or seven deals this year. Kleiner Perkins started work in China in 2007. The news service says that officials with the fund did not return calls. The source said a public announcement was expected.
- read the story from Reuters