Kleiner Perkins raises $250 million China II Fund

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Venture firm Kleiner Perkins has raised a $250 million fund to invest in Chinese companies, according to a filing with the Securities and Exchange Commission. The KPBC China Fund II filing documents list chief financial officer Susan Biglieri as the company’s signatory.

This follows a recent trend of Asia-focused venture funds, but it is very small when compared to the $6 billion raised by venture firm Kohlberg Kravis Roberts in October.

Companies in the Kleiner Perkins China portfolio include 360Buy, an e-commerce platform, PVNext, which makes solar panels, and Scinor Water Technologies.

China is the world’s largest Internet market, with more than 500 million Internet users. However, just 35 percent of Chinese people are online.