KPCB China veterans have launched China Creation Ventures, a new venture capital firm to identify and cultivate more early-stage Chinese startups.
Founded in April 2017 by Zhou Wei, former Managing Partner at Kleiner Perkins Caufield & Byers (KPCB) China, China Creation Ventures (CCV) intends to invest in promising Chinese startups with technology innovation.
In less than six months, the firm raised 10-year RMB funds amounting to more than USD$200m.
The founding team also includes:
– Tang Xin, partner, who has 20 years of investment and operational experience having worked with Zhou over 10 years in KPCB China. He identifies interesting business models and has a strong track record of investing in projects which have gained quick exits.
– Liang Yu, partner, who has 16 years of investment, technological and operational experience, partnering with Zhou and Tang in KPCB China for 4 years.
The firm’s main investment focus is in the TMT area, specifically, startups in Fintech, big data, artificial intelligence, and general entertainment industries. They are also interested in Internet startups that expand their business outside China which have the potential to become large platform conglomerates with positive social impact.